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MuayThai18

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  1. I debated to myself about whether to air my family's dirty laundry here, but If you want to talk about 'taking more than a fair share of the inheritance': A few years ago my other aunt and her husband built an extension to my grandparents home so they could all live together. It cost near enough 300k. It was verbally agreed upon death of my grandparents my aunt and her husband would get the 300k it cost to build before anything else was distributed. Fair enough. A couple weeks ago my aunts husband produced a legal document for my grandparents to sign. A loan to the tune of 30
  2. I deal with my grandparents' tax affairs. I originally did a rough calculation just to give an idea of the CGT position, nothing more nothing less. From this info I just explained affordability. I wish I hadn't got involved in the first place but at the end of the day my grandparents necks are on the line for the tax, not hers
  3. My aunt, a single parent with 3 kids, works full time as a teacher at a private school. She earns 40k a year. Historically she rented with an alcoholic ex-husband. When they eventually split my grandparents bought her a house on a buy to let so she had somewhere to live and rented it to her at cost so she only had to pay the interest on the mortgage. It's been a few years now and she has finally divorced her husband, and has the idea of home ownership in her head. She wants to sell where she currently lives, take all of the equity and buy a detached house on her own for herself and her k
  4. Just went with the missus to a local restaurant to try out this half price nonsense. The burger was £17.50, half price would've been a normal price. Except we didn't get that far, we got up and left 25 mins after being seated and given menus because no one came to order our drinks and or food
  5. So today I was preparing company accounts for a property investor. He bought a house in Nov 18 for 200k with 75%/150k mortgage. In July 2019 he had it revalued at 340k and remortgaged at 75%. He basically got 100k cash after fees. What did he do with this 100k? Deposit on another property.... Bearing in mind he spent 10k sprucing the place up, where have you ever heard of a house increasing in 140k in just under 2 years? It's made me realise the mortgage brokers, surveyors, solicitors, and everyone else involved in the chain is dirty as hell. As long as he makes his monthly r
  6. This is a fundamental misunderstanding of economics. Price is driven by demand, not the other way around. Demand increases when price decreases. Lack of demand will eventually drive the price down, the trouble is government intervention. They are doing everything they can to prop up prices right now, which is a flawed approach but they have to be seen to be doing something. However the market always corrects itself. When the lack of demand drives prices lower, the most inefficient suppliers with the lowest margins will leave the market. Again, the problem is government intervention - it
  7. This could all be solved by getting rid of principal private residence relief, and entrepreneurs relief on furnished holiday letting. I had a landlord client that sold a property last year. He lived in it for a few years, then let it for a few years, then it was a holiday let for the last few years of ownership. Without PPR, letting relief, and ER he would've paid 30 odd grand in capital gains tax. With the available reliefs he paid 4 grand. He was happy, but I felt somewhat pissed off submitting that tax return. Nowhere else in tax do you get such great tax reliefs
  8. This was actually a thing in the 90s - Gordon Brown got rid of it. MIRAS it was called.
  9. As far as I know in England you can back out at the last minute if you get cold feet. In Scotland however once you've made an offer you are committed to buying it. Glad I'm English lol
  10. I'm so excited for the impending crash. There's a one bed cluster house I've had my eye on for about 9 months. It was originally on the market a year ago for 170k. Got dropped to 155k back in January. I think I might offer 110k just to piss off the estate agent and buyer. They will probably give in soon enough and I'll snap it up
  11. So I've got a mate that's an economist and he says as a nation, British people spend 1.25x more than we save It's only a matter of time before it all goes pop And it's not a case of 'if', it's a case of 'when'
  12. I agree with everyone here that Branson shouldn't be bailed out by the government. However. You cannot attack his business model. In the airline industry margins are tight and competition is fierce, so how are you expected to make any money? Simple - you grow into your profits. The fundamental rule of business is this: as long as you can pay your creditors you can continue to operate. With that rule in mind what do you do when you're in a rut and cash flow is bad? You grow out of it. You work on lower margins with higher volumes so you can make just enough cash to pay your c
  13. If they've received small businesses rate relief (and as a result not paid business rates) in the past then they will be entitled to a 10k grant. That is dependent on actually being registered with the council. The entitlement is entirely dependent on if you got a letter back in March detailing the rateable value and relief that was due. I suspect most won't have a rateable value and so won't be entitled to anything
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