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House Price Crash Forum


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About Tulip_mania

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  1. Obviously dependent on how much your employer puts in, but most DB (usually career average now) schemes cost around 30% of salary in total (employee and employer) contribution, and don't pay until 65. Anything paying younger will have crazy contributions.
  2. Well if the price of land has halved in the last 4 years the flats will be a whole lot more affordable.
  3. I don't think they were doing so while MPs, but many MPs were only elected since 2010. Presumably only the terminally dim have been using this dodge for the last 5 years since HMRC started explicitly stating it was a no-go area, so most of the avoidance is probably from before then.
  4. This campaign is always somewhat limited by the fact that if you spend 30 seconds explaining it to the millions who did pay tax and NI for the last 20 years, the likely response 'pay your taxes like I did' and limited sympathy. I wonder of the 150 MPs, how many are either personally affected, or have a close friend/associate who is.
  5. From the Guardian article. "Although her business is new – and she had to have time off after a family bereavement – she is required to meet demanding monthly income targets and, if she does not make them, universal credit will not make up the difference." From the DWP website "If you’re within 12 months of starting your business, you may be eligible for a start up period of up to 12 months. During your start up period your monthly earnings are used to work out your Universal Credit and the Minimum Income Floor doesn’t apply. You’ll also receive support from a work coach who’s trained to work with the self-employed. You’ll need to attend quarterly appointments with your Work Coach, providing evidence to show that you’re still gainfully self-employed and actively taking steps to build your business. You’re only entitled to one start up period, unless it has been more than 5 years since your previous one, and you’ve started a completely different type of self-employment." So has she been trying to start up as a personal trainer for >12 months, or is there a list of hobbies that haven't worked out as businesses? Journalists really failing to ask pertinent questions.
  6. Taxing Winter Fuel Allowance, Bus Pass and TV licence would be a simple way of both reducing the amount given to the better off and highlighting to all pensioners that they have a combined value of around £1,000/year. A more complex means test would be a bit of a faff so probably not worth it, just send out the P11Ds.
  7. I though they actually started including repossessions (though given there are so few not a huge factor) though if Builders are selling at discount in bulk to Housing Associations it would be interesting to see if these are included or not.
  8. Indeed, the volume numbers seem to be hanging on, but those in particular are the last to show anything. The Land Registry's strength is that it is based on facts, actual prices paid. It's weakness is that it is more useful for historians than forecasters. Surely registration could be a faster, online process that doesn't take 3+ months.
  9. There is always a disconnect between what is described as 'Middle Class' by newspapers; detached house, private school etc. and the reality of life for a middle income person in the UK today, 25-75th percentiles are ~£18-36k. So why are middle earners annoyed, I can see plenty of reasons mostly around the general cost of living. Why are those who have or aspire to 'Middle Class' lifestyles annoyed, well you probably need at least £72k to start having a perceived Middle Class life, more in London.
  10. Aside from the many issues which have become apparent with setting people up claiming UC, which will in all honesty eventually be fixed, there were similar issues with Tax Credits and overpayments about 15 years ago, there are 2 fundamental aspects of UC which might have an impact on house prices. The savings limit, will restrict UC recipients from building up a deposit. The minimum income floor, prevents supposedly self employed people from claiming max WTC, as deductions will be made based on them earning <minimum wage>*<required hours>. The woman complaining to Cameron about Tax Credit reform in 2015 is an example.
  11. Also, much as the payment of housing benefit in cash as part of UC is criticised, will it not make 'DSS' payment much harder to spot by landlords/letting agents?
  12. There is no income tax payable on the first £11,800 (£12,500 from April) of taxable income, the 1st percentile line on the government table pretty much tracks the income threshold. So the government stats are percentiles of only 3/4ish of the population, their 1st percentile is roughly Statista's 25%.
  13. The thing is, my Council Tax/Electricity/Water/Internet bills are less than 1/3 of my rent. So even if they go up a bit, for the same overall impact on my finances they would need to go up by 3 times rent/mortgage. Council Tax has gone up a bit the last few years, particularly with the extra social care charge and police, but before that it was static or low increases for a long time. Electricity is creeping up now, though again compared to 40 years ago is cheap and new appliances/lights use less. Water (particularly drainage) does go up a bit again from a low base, Internet is much the same price it has always been if you shop around.
  14. I presume that post tax must include things like tax credits and child benefit, as I drop about 10 percentiles between pre and post tax income. Though always an interesting reminder to note that the 20% percentile is £15k and the 80th £40k, when you see stories about 'Middle Class' people on £100k/year pleading poverty, or public sector workers on £30k being described as 'low paid'
  15. I think it's the 'freak show' mentality, there are a fair few (often not money related) threads on mumsnet that middle earning (so neither of the groups you describe) women I work with talk about with incredulity. People notice the weirdos, the 'beaker' one was the best/worst.
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