IP Newcomer
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Big article in the Money section - why doesn't taxman demand addresses of all BTLs, or how are they to check whether LLs are paying tax? At present no such detail required on tax returns, only the number of rental properties.
Both rent and CGT mentioned. Says some LLs are genuinely unaware that CGT is payable. "But other LLs are not so innocent. Type the words "how will HMRC find" into Google and the search engine will automatically fill out the rest of the sentence as "out about rental income."
Link:
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Thank you everyone, I will look into ETFs.
I'm still tempted by Gazprom, although I don't like the fact that they dislike dividends.
But it all seems to be quietening down, so I better get a move on while the cannon is still firing.
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Weir engineering sell drilling rigs and they're on the main London Stock Exchange.
If you want to be more speculative try Quadrilla, they are doing a lot of the drilling - but I don't know where their shares are quoted/
Suggestions from Motley Fool, one of them was Weir
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How can I invest in Russia? I know that Gazprom has some ADRs listed in London and the JP Morgan Investment Trust is talked about a lot, but are there other options that people could suggest?
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With russia angry everybody wants a piece of the pie and now me. What are some good FTSE plays?
Weir engineering sell drilling rigs and they're on the main London Stock Exchange.
If you want to be more speculative try Quadrilla, they are doing a lot of the drilling - but I don't know where their shares are quoted/
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You must both expect a greater fool to come along at a future date, so that you can offload it at a profit.
I don't, I'm staying put for years and I'm not getting involved in property profit shares.
As far as her, she's given up.
Perhaps it's the last bear turning bull
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So I got an email from my sister, who is usually financially savvy.
I've told her to stand firm for years, but as the market continues to defy gravity I don't even try any more. She can't stand the idea of going deeper into her thirties at the mercy of landlords and six month tenancies. I've also given in and bought, so it's do as I say and not as I do.
She wants to buy a place but it has to be in Central London. I have said to her that she should move out of London, but she can't stand the idea of a long commute.
So she wants someone to help fund the deposit on a profit share (hence the email to me) and she will pay for the mortgage partly through renting the place out.
I decided that I wouldn't help, but as she's been there for me in the past I've offered her various pieces of advice.
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Franchises for gardening or cleaning, can help you find leads to work. You already have a big box name brand that people trust more - more so than "honest JAck grass cutters".
If you have little competition I would start on your own name and build the business that way. But if you live in an area with intense competition, a franchise may help.
The other point is that in the kosher cases (and there are quite a few shady examples, I agree) then it can be a very good way to not have to invent everything, it's already been proven in other market places. You don't need to think what colours look good on your van, that's sorted, or what wording you should put on your leaflets, that's market tested, or how much you charge for different jobs. Even backroom office processes should be largely decided for you. Not everyone is born to revolutionise their markets.
However, the fact that funding for lending is getting into this space will in a couple of years see the hitherto very low failure rates for franchises go quite a bit higher (and the shady operators increase). I'd really hate to see this underappreciated segment of the business landscape become another bloody bubble.
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if for 100K you can buy a KFC or a Pizza hut...great...but gardening and cleaning?
All you need is a van and an advert...and you wont be paying annual royalties.
I think the original poster was saying that the franchise was £30,000. "It's being seen as a great option - and the "30% is only about 10k" "
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The stock market's buoyant, private sector job creation is still strong, our trading partners outside the Eurozone are picking themselves off the floor, and deficit reduction is going to be almost solidly about public sector cuts rather than tax rises until the next election a sustained recovery if not certain is possible, perhaps even probable.
What would this mean for house prices?
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The deadline is creeping up for submissions, 11am on 17 January .
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Is there really no one else willing or able to submit something?
If people want help with the formatting (or even some help to get started) PM me. We only have a couple of weeks now.
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How are people's submissions coming on? I've done a first draft of a submission, but it is very much based on my experiences as a tenant (now three years out of date).
Now sent. Actually rather easy.
The instructions from their website make it a bit easier::
Submissions of no more than 3,000 words are invited by 11am on 17 January 2013.Each submission should be labelled with the subject ‘Private Rented Sector’, sent to clgev@parliament.uk, attached in Word format (with as little use of colour or logos as possible) and be accompanied by a covering email containing the name and contact details of the individual submitting evidence
There is a guide to putting together evidence in pdf. It's not showing this morning but the advice seems to be to have a executive briefing which tells them what you are going to say, to have an introduction where you lay out not just your standpoint but also your expertise in the area, clearly state recomended actions and number the paragraphs. Following these will mean that you're far more likely to be called to give evidence, or for your evidence to be published/read.
If you want to give evidence clearly state so in your covering email.
I think that it would be best for people to focus on one or two areas (I've concentrated on repairs and landlord mortgage non-payment) as we are individuals and not representing any particular group. But I think it's most important to get the submissions in as the other side will certainly get their evidence in and will show up in force.
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How are people's submissions coming on? I've done a first draft of a submission, but it is very much based on my experiences as a tenant (now three years out of date).
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Lots of talk on Question Time about licensing landlords. The idea seems to be it will be illegal to stand on your own two feet and refuse government hand-outs.
If you refuse housing benefit recipients as tenants because you feel that forcing taxpayers to pay for your lavish lifestyle is morally wrong, you will lose your license.
What do the you think of this idea? Do you think the commies have gone completely bonkers?
Would you accept the forced hand-outs?
It's going to be easy to circumvent any ban on HB tenants - for example insist on high deposits or simply find frivolous reasons to refuse those who are likely to be on benefit. I got the impression that landlords had recently been favouring HB recipients as they did not have any incentive to bargain down on price and the income was less likely to be interupted.
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typical watchdog angle then, never explain the full picture, but some poor struggling young mother with her first child has been duped out of a few quid so it makes it on the program, harp on about how nasty the organistion in question is and forget all about what mistakes the member of public actually made.
i haven't been here for a while. Is this Ruse11 a new troll?
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I assume if they let to someone else, the £200 is refunded?
No, non refundable.
So many questions went unasked IMO.
That one was, to be honest.
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it seems that these letting agents charge a fee to do the paper work, guess if they have them queuing up to pay for it, charge it I suppose... good business practice.
I've got the name wrong, it's Brendan Kiely.
If they had charged that money and not promised to reserve the house they would have been off scot free (I think).
They claim they've fired all the people who did this (or got caught). "He says while some employees made mistakes due to lack of training, any of those identified as working outside company policies have been removed." I wonder what the training and incentives were.
http://www.bbc.co.uk/blogs/watchdog/2012/04/brendan_kiely.html
http://www.lancashiretelegraph.co.uk/news/8482410.Burnley_landlord_fined___2_000/
Funny how like Brent he looks.
One thing the Watchdog summary missed was when he said how useless his tenants were because they accepted the poor properties he offered people when the promised work wasn't done. Charming.
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Didn't catch it all, but basically going on about some type of reservation fee.
It's about some chap called Brendan Kiley who's a letting agent operating in the North East.
Something on MSE about it:
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It appears that unlike it's UK counterpart, the US housing Market well and truly crashed with falls of upto 60% from peak.
There is some evidence that prices are now bottoming out and that now is the time to snap up bargains
I've seen condos in Florida selling for $50,000 65% below peak price with good rental yields
Is now the time to buy?
Your views please
I've been looking at the US scene for years, and I'm thinking of going in. There are two things that concern me.
Firstly it is a far more regional market than here. There will be places that will come roaring back, but there will also be places that will remain subdued in nominal terms for decades whereas there could be a couple of places where the big rebounds have already happened.
Secondly managing a property in the UK is hard enough, doing so in a foreign country is harder still. Not only can't you visit but there are different laws and customs that we can underestimate. For example property taxes over in the US are often quite high and if they're not paid then your house is could be foreclosed fairly fast.
We also have to remember that we're betting on the dollar strengthening on the long term
Anyway this may not be the time (or it may be), but the market is looking very undervalued so unlike UK property I'm a cautious bull.
Here's a more bullish article from the Daily Reckoning:
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There is going to be a lot of activity around this. This one is in Ipswich, and it seems to have got quite a lot of attention:
http://ipswichspy.wordpress.com/2011/12/19/homeless-new-year-threat-of-coalition-benefit-cuts/
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I think that this article seems to be bathed in HPC related themes:
http://www.spectator.co.uk/essays/all/7326043/the-free-market-in-danger.thtml
I don't agree with everything (eg owner occupation for ever for these plots could be problematic) but the idea of encouraging self build, owner occupation and doing it at close to zero cost is appealing.
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Why aren't they getting help from the housebuilders?
I'm not being facetious. It's just that the housebuilders have money and presumably some lobbying resources (admin, media access, etc) while the priced out people have the compelling stories. It's not as if the housebuilders are making a success of their fight against the National Trust and the Telegraph.
The housebuilders should be saying, by proxy, that those who oppose planning liberalisation are in the end only really interested in denying people jobs and families houses.
The house builders should also be organising out of work construction workers so that they can also spit in the face of the nimbies in the National Trust.
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So her debt gets wiped off?
I will be incredibly p!ssed if that happens here (I'm angry about it happening in this instance!), whether in the form of bank/credit card debt or mortgage debt. Can you imagine it? The slap to the face of all us suckers? Might as well load up now - go for that £500k mansion you've always wanted.
Actually this is a real blow not to savers but to borrowers. Many borrowers are not able to save so need debt to either make large purchases or even live day to day.
And a debt amnesty will mean no large scale consumer lending for a generation.
The people who are able to save will be the ones with the ability to raise the capital.
This will be so deflationary that the government will not do this unless the place is ready to explode.
Instead it will be the printing press.
Self Build Group
in All about self-build
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PM me. Not got anything, but also on the look out.
Have you posted a similar request in the East Anglia forum?