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Wise Old Elf

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About Wise Old Elf

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  1. 4) planning to move into rented accommodation and buy again at a later date.
  2. Arrggghh, trouble posting today. Reading the original article, one of the proposals is to scrap CGT ending when you die & anyone inheriting an asset would still have to pay it, based on the original purchase price, if the asset was ever sold. Not clear how this fits in with IHT.
  3. Reading the original article, o Didn't copy but did fail to read your post so apologies 😔
  4. I suspect so, once they realise what is happening 😱
  5. Agreed, but many of them have continually remortgaged to the max possible to provide the deposits for the next houses & maintain maximum mortgage tax relief (which they didn't expect to be removed). Someone I know bought a BTL some years ago at £145k & their IO mortgage is now in the region of £250k I believe. They could maybe sell it for £295k but if they had to pay 40% CGT that would leave less than the mortgage.
  6. Had some thoughts after reading this yesterday. Would the "savvy" BTL entrepreneurs that have financed their property empires with 80%+ interest only mortgages ever be able to sell up if 40% of their capital gain is taxed? They wouldn't be able to repay the mortgage & the CGT bill. If they decided they would therefore never sell the property the proposal is that CGT liability would be due on death or passed on to whoever inherited the property (based on the original purchase price), becoming their problem. Think it said this would be in addition to IHT. But, this would not t
  7. This appears to be the case where I am. Far greater number of more expensive houses therefore, average asking price is higher. Appears to be a lot of older people trying to exit at the top of the market. Not sure whee they are planning to go if they do manage to sell. Maybe to the many retirement flats that are being built. Although these appear massively overpriced to me they could still buy one & trouser a £100k or so if they were to get their asking price.
  8. Indeed. Your savings are already stolen over time by stealth. Your house could be taken in the same way.
  9. Responding to this much against my better judgement but IF the government was prepared to effectively "steal" your savings, what makes anybody think they couldn't also "nationalise" your house?
  10. It has been going on for years. My Mother used to work at an EA/surveyor, typing up all the letters including for someone who is now very well known.
  11. Hmmm, I wonder if that explains why so many bereavement sales that "require renovation" are not marketed very much & end up selling well below asking price to the same local builders 🤔
  12. My previous job was made redundant, after I volunteered to go to meet staff reduction imposed from above, not related to reduction in workload. The project is separate but within my capabilities & local management will struggle to resource it. They probably didn't want me to go but I volunteered & if I was declined someone else would have to be made redundancy next year. I think the local manager saw an extension as a solution & more money for me but I don't actually think HR would have agreed to it. I was more concerned that they would revoke my enhanced package.
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