spyguy
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Posts posted by spyguy
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Last financial year report here https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/442886/LIT_10133.pdf
Drainage board spend - £1m.
'The bard and the directors have decided to divest itself of the drainage boards ASAP'.
Staff cost £410m.
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I imagine the Environment Agency boss has the requisite ducks in a row.
Central Government cuts to funding for flood defences and environmental work.
Decisions to build on flood plains, sometimes in the teeth of EA objections
Flood defences being built to withstand the rainfall and flood figures of the past
And so on.
Well. I would hazard a guess that most of the flood spending is p1ssed away of the bureaucracy.
I would guess the EA spend more on its diversification policies than on basic drain clearing.
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Christ. Must be getting hard in theKSA.
They'll be making them get jobs next.
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"Linda Horsman, 64, who owns two flats in the flood zone with husband Paul, 68, said of the barrier failure: 'It's stupid and it makes me very angry. We are now having to face the consequences.'"
https://beta.companieshouse.gov.uk/officers/n0x0nADF-NQHx3izX-9eCJVQha4/appointments
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Following on from the 50k house post.
In a place far, far away from London. Nothing really sells. Big houses, little houses, whatever houses.
Doing my weeklyish RM search on places listed in the last 7 days, 3 miles radius Scarborough. This one pops up again:
http://www.rightmove.co.uk/property-for-sale/property-39887540.html
They've dropped the price from 400k to 350k.
Its two houses plus a works yard, so its only 250k over priced rather than 300k overpriced.
Its has the most stupid, 'See you in court'/'Why would an EA put this in writing' description:
Detailed Description changed: Full description Tenure: Freehold ***INVESTMENT OPPORTUNITY***POTENTIAL FOR SIX LETTING UNITS***APPROX £3,000 PER MONTH*** Currently comprising of a pair of two bedroom semi detached houses in good order, a warehouse/workshop at the rear with potential for two generous flats and then three garages and a courtyard within which the vendor has had verbal agreement from the council that it would be possible to build two further houses on.
I'm guessing he's been chatting to the local street cleaner then?
If - and a big if - they built the extra houses - and that yard does not look that big. They could get about 400/month per house. The 2 existing houses would need gutting at a cost of ~30K each.
For comparison sake, here's whats on the same page:
Nice 6 bed detached in Cloughton (v nice area) Double garage, lots of space 384K
http://www.rightmove.co.uk/property-for-sale/property-47104597.html
3 bed farm house, Flixton Mhh area.
http://www.rightmove.co.uk/property-for-sale/property-31951173.html
Over priced. My god - the decor! Has a look of probate/gone in home.
There's a couple of pictures of what I thought was a sink. Looking again, I see its a sunken bath. My god.
4 bed semi, right down the front, near the Rotunda/Valley Bridge - 360k
http://www.rightmove.co.uk/property-for-sale/property-43332245.html
This looks like a refurb.
I like the house + location.I prefer the beigger hosue next door though.
Been up for sale for 1 year. Starting price 450k.
If I was to offer on this, why not go for 250K? They've already had to knock 100k off the price which, to me, would indicate a seller/EA who just are unable to come up with a realistic price - 1 year + 100k off indicates buffoons.
Revisiting this.
Clicking on the RM link and using the Market info 'Sold' feature, as far as I can tell, none of these places sold. Not one.
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Profit?
Being hit be enormous fine for rule breaking, and tax bill? And perhaps authorities making assumption you've done it in the past?
Spyguy - agree with Spyguy.
Been here many times. Here are the rules, from 2010 but they have not changed much:
To make sure your property qualifies as a furnished holiday letting, it must be:
- in the UK or EEA
- furnished
- available for commercial letting to the public, as holiday accommodation, for at least 140 days a year (210 days for 2012-13)
- commercially let as holiday accommodation for at least 70 days a year (105 days for 2012-13) - the rent must be charged at market rate and not at cheap rates to friends and family
- a short term letting of no more than 31 days - find more guidance on furnished holiday lettings by using the link below
For the Busta crowd - you have to let the property out for at least 70 days. That may sound easy but the competition for holiday lets in a lot of places means you have to aggressively price your holiday home. By aggressive I mean run at a substantial cash loss if you have borrowed money.
And you cannot let it to a doley over the out of season period - 31 days max!
Again, I am from a region blighted by holiday lets. HMRC do not flex on these rules.
And trying to get your accountant to lie on your tax return is not a good tax avoidance strategy - the accountant has a lot more to lose then you.
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You miss the point. What is to stop someone buying a property as a holiday let and later long term letting it? It is very common for furnished holiday lets to let on a 3 to 6 month tenancy over the winter.
Tax FFS!
No its not . The furnished holiday let rules explicit forbid rentals over 31 days.
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- commercially let as holiday accommodation for at least 70 days a year (105 days for 2012-13) - the rent must be charged at market rate and not at cheap rates to friends and family
Coming from an area blighted by holiday lets, I know of a few who have come unstuck on the 70 days rule.
Most holiday lets only manage school holidays - about 10 weeks.
Some idiots insist on trying to charge a stupid rate - because its worth it! - , despite their accountant pointing out they should set their out of season rate to be very very very low to avoid the above.
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Cheers, just curious.
When its nice, I could almost seing me living in Hebden.
When its not nice the Calder Valley is like a lomg, depressive funk.
Despite me whinging at the wimmin, I have no real problem with the Hebden's inflows ove the last 30 years - although it does seem to have come at the expense of the people who lived there - yes, I know there wa a lto of empty properties.
I'm pretty sceptical that a public sector wage funded idyll can survive the future - these peole are going to have go go out and earn money a the whole tax credits and public sector job job jubilee has long ended.
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Spoke recently to an accountant who said that he expected this new legislation to fail. It didn't need a law case it is just too complicated. Whilst Osborne has made his intention clear the legislation is yet to be published. There are too many anomalies. What about holiday lets? Which are currently classed as a business. How about owner occupiers who are bridging? Commercial property will not be subject to the changes in tax relief so any landlord who has a mixed portfolio will easily be able to avoid it. It was done to shoot Labours Fox but now will quietly disappear.
Inland Revenue are not clever enough or motivated to enforce anything complicated. They all piss off at 3 o'clock every day as it is!
Balls!
Furnished holiday lets operate very differently. There is no tenancy agreement and they have to be empty ~3 months of the year.
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Yes, my understanding is that it's not possible to apply for JR without leave to do so, and that many if not most cases fail at that stage. I'm told that the Government doesn't always defend the permission stage if the case is a matter of public interest (or if it suits them to try to set a helpful precedent) but I think that's highly unlikely here. Given that they've hardly got any money, the crown's litigation strategy will probably be to outgun them at every stage. Doubtless they'll seek to have permission refused on the grounds that the case has no prospect of success, given that they are trying to achieve something which is essentially unconstitutional.
You can pay a barrister to stand up and say all sorts of stupid things, it doesn't mean they agree with you. Even imbeciles are allowed their day in court. For £73m I'd profess undying love for Fergus Wilson. It makes me wish I hadn't dropped out of my law degree.
Shhhhh! Don't reveal how the legal system works FFS!
In the past, I've had a couple of solicitors letters that have no relationship to any form of legal understanding. I replied that I was pursuing a harassment case and had reported them to the SRA (a useless bunch of stnuc).
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^ Did your sister sell her house?
Yes. 2.5 years and 40% of asking.
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Picture from the Mail, a perfect place to build some housing!
Yes.
My cousin has been drafted into York as he's a member of Scabbies/Ryedales mountain rescue team.
But we don't have any mountains I keep telling him.
I'm relaying Hebden updates to family member who has a house and shop and is away from internet.
The shop almost makes it into the DM picture.
Don't bother rushing back.
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I won't lie, I was dreading Christmas chatter this year, again.
What a pleasant surprise I had though, no one mentioned houses.
Instead, there was a lot of chatter of people loosing their jobs and moving back in with parents!!!
I'm not talking 21 year old, in talking 40 year olds with children.
The high flyers I'd heard so much about, mostly related to oil jobs, now not so much flying as sitting, doing #### all.
Several banker jobs seem to be going too but this still to filter through.
When the inevitable stock market crash comes it's going to be hard times for the ever so irritating London middle class that are forever telling me how well they are doing.
2016 is going to be an interesting year for many.
Happy new year.
Retail finance still going through massive restructuring. Well, no they can no longer scam PPI, how else will they make money?
Investment/commercial banking is also struggling.
Oils fcked.
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If they are 40 something oil people they should know by now that it's a very much a boom and bust industry and prepare accordingly. I knew people working in it during the last big crash in oil price in the 90s. Some companies got rid of 9/10 of the staff in some functions near overnight. Six months earlier, staff had been racking up months of untaken leave because they were too busy.
I see you don't know many people working in the oil industry ...
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Oh, and be very careful as the UK differentiates between a consumer and a business for financial regulations/oversight.
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Never mind the fact that a Judicial Review rules on the process not the content, unless I'm mistaken, I'd be interested to see them argue their way round point (2).
Protocol 1 Art.1 of the European Convention on Human Rights provides:
(1) Every natural or legal person is entitled to the peaceful enjoyment of his possessions. No one shall be deprived of his possessions except in the public interest and subject to the conditions provided for by law and by the general principles of international law.
(2) The preceding provisions shall not, however, in any way impair the right of a state to enforce such laws as it deems necessary to control the use of property in accordance with the general interest or to secure the payment of taxes or other contributions or penalties.
I think you'll find that the bank still owns the mortgaged house.
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The news is still asking what will be done to prevent flooding with such exceptional prolonged exceptional levels of rainfall.
The real answer is nothing.
Nothing can stop a months worth of rain flooding places when it falls on an oversaturated landscape.
The rain simply has to go somewhere.
Building barriers to manage this level of rain will only work for this amount of rain. Bear in mind another rain storm is due before the end of the week, and probably another after that and another after that.
You can tweak certain areas i.e. put in special building regulations that insists that new drives and hard standing absorb water.
Looking at the news, places like Hebden/Calder Valley (water coming off the Pennines) and York (confluence of rivers before they join the Humber and go to the sea) are more or less fcked if these weather patterns continue.
Hebden has had 3 major floods in 3 years. 2 of those had about 3 weeks between each flood.
And we are about to enter the wet season too.
I think you are allowed about 1 flood in a 20 year period. Any more than that and the property will be uninsurable.
I will happily buy any house that has flooded in York or Hebden for £5 max.
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I live in a rural and fairly low population area. Thinking back I remember ditches around fields and at each side of roads. Most of them are gone now.
Driving today on the A75, again I've thought....why have all the ditches gone? What method of getting rid of the water has replaced ditches?
When I think of the ongoing expansion and drainage issues in more built up areas it just makes me think it's unsurprising that there is more flooding during extreme rainy spells.
Most ditches are still there, they've just grown over.
Rural areas had drainage boards - or something else, depending on what region you lived.
The Parish council used to oversee and pay people to keep them clean.
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Well actually you would. The interest would be allowable as an operating expense and the purchase price of the vehicle would be eligible for capital allowances, and in certain circumstances it is also possible to reclaim VAT on the purchase of the vehicle.
Not as an individual/non inc.
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Is Richard Dyson desperate?
Or a moron?
Or very exposed to BTL?
Or told his job is BTL commentard at the Telegraph?
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Another Dyson article full of barely and un qualified assertions and assumptions.
Here's one:
Although buy-to-let investors have met with little support from any political party, their objections to the tax changes are widely supported by the accounting and legal professions.
Err.
Really? Has he any evidence to support that claim?
Top rated comments come back with why not.
Lets say I bought a car on HP and operated as a taxi, not incorporating or anything.
Would I be able to deduct the HP payments against the taxi income.
Nope.
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I think you'll want to revise those rainfall figures...
3 floods in 2 weeks.
Apparently Noah's been spotted in the High Street.
Just wait til he finds out his two of every species are all wimmin.
Hope he packed a turkey baster.
Bit too frequent fro me
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I was listening to an manager in an oil company talk a few months back.
He recently was retired at the age of maybe 55 or so - he was a bit useless but was an "asset manager" who had put in years in Aberdeen (with a few other places thrown in as well).
He was telling young grads that when he came to Aberdeen, and he bought another bigger house with every downturn*. Which means he maybe started about 30 years ago mid-80's.
So he said that he reckoned that the oil industry will always be there in Aberdeen and that it made sense to put skin in the game when everyone was losing their shirts.
It worked for him.
But the advice he was giving now was a bit disingenuous. Maybe he believed it or maybe he was just telling a graduate who wanted to pay £200k for a luxury flat.
Anyway - take it from good authority that there will be a few things for many years to come:
a) lots of work in decommissioning - you could make your career in it and it will be highly paid. This is because you are special
there's still lots of oil left - and there's West of Shetland and other places too.c) Aberdeen will be an oil and gas centre of excellence for many years to come (just like Motherwell and steel)
I don;t think there'll be much decom work going.
Greenpeace are backing away from demanding that all riga and the concrete slab that they sit on be removed from the seabed.
They've come round to the idea that the left overs will provide reef and habitat for fish and the like.
Assuming the remains are not filled will oily gunk.
2016 Predictions Thread
in House prices and the economy
Posted
Motorhead 2016 tour cancelled.