mrtickle Posted September 29, 2018 Share Posted September 29, 2018 (edited) 1 hour ago, rantnrave said: Buried in today's Torygraph is the news that the extra 3% Stamp Duty is not deterring people from buying second properties (and more). This year's anticipated revenue from the levy was £1bn, but currently its brought in 70% more than that... That's great news! 31 minutes ago, oatbake said: Seems sensible to increase it in the October budget Very much so. I propose: 4% for second properties 8% for third properties 16% for fourth properties 32% for fifth properties 64% for sixth properties etc. This allows lots of people to be genuine "investors" (as long as they are not borrowing the money of course - PRA and section 24 helps with that), whilst deterring the disgusting hoarding of large numbers of houses by a small number of spivs. Edited September 29, 2018 by mrtickle Quote Link to comment Share on other sites More sharing options...
oatbake Posted September 29, 2018 Share Posted September 29, 2018 Haha I'd love to see how that goes down on parasite118 ? Blood will be literally boiling! Quote Link to comment Share on other sites More sharing options...
Lavalas Posted September 30, 2018 Share Posted September 30, 2018 Here’s a sample of the first output from the ‘National Landlord Alliance’ that they’re all getting excited about over on 118. A hard hitting twitter account, telling it like it is, end of. Should be some good comedy in the pipeline here from ‘Nial’. Quote Link to comment Share on other sites More sharing options...
Lavalas Posted September 30, 2018 Share Posted September 30, 2018 I mean look at the state of this... It was posted at half eleven on a Saturday night. I think that’s probably all we really need to know. Quote Link to comment Share on other sites More sharing options...
thewig Posted September 30, 2018 Share Posted September 30, 2018 End of the DEBTjunkie cretins is nigh Quote Link to comment Share on other sites More sharing options...
thewig Posted September 30, 2018 Share Posted September 30, 2018 National scandal hashtag can see that one going hashtag viral hashtag #love Quote Link to comment Share on other sites More sharing options...
thewig Posted September 30, 2018 Share Posted September 30, 2018 #hate why does the so called charity “shelter” hate the homeless end of. Hashtag. Quote Link to comment Share on other sites More sharing options...
Lavalas Posted September 30, 2018 Share Posted September 30, 2018 (edited) ? #new reply I don’t think this National Landlord Alliance Ltd* leader is the most stable character, to be honest... https://www.otsnews.co.uk/southport-businessman-larry-sweeney-calls-for-enquiry-into-sefton-planning/ *why is it ‘ltd’?# Edited September 30, 2018 by Lavalas Quote Link to comment Share on other sites More sharing options...
Dyson Fury Posted September 30, 2018 Share Posted September 30, 2018 7 hours ago, Lavalas said: National Landlord Alliance Ltd* *why is it ‘ltd’?# It's been set up as a Private Limited Company. This quickly gets very interesting. Although this initiative presents itself on 118 as being established just in the last few days, Mr Sweeney in fact registered this company as long ago as July 2015, and it was listed as "dormant" during 2016 and 2017: https://beta.companieshouse.gov.uk/company/09686851/filing-history Quote Link to comment Share on other sites More sharing options...
Lavalas Posted September 30, 2018 Share Posted September 30, 2018 2 hours ago, Dyson Fury said: It's been set up as a Private Limited Company. This quickly gets very interesting. Although this initiative presents itself on 118 as being established just in the last few days, Mr Sweeney in fact registered this company as long ago as July 2015, and it was listed as "dormant" during 2016 and 2017: https://beta.companieshouse.gov.uk/company/09686851/filing-history Thank you. I did have a quick look but at Larry not Laurence. Sounds like he’s had a couple of years to plan his approach. Impressive stuff so far. Quote Link to comment Share on other sites More sharing options...
Neverwhere Posted September 30, 2018 Share Posted September 30, 2018 11 hours ago, Lavalas said: Here’s a sample of the first output from the ‘National Landlord Alliance’ that they’re all getting excited about over on 118. A hard hitting twitter account, telling it like it is, end of. Should be some good comedy in the pipeline here from ‘Nial’. That account is already brilliantly funny and it's barely been up a day! I'm guessing there is an explanatory story in the 'discord' and 'strife' Quote Link to comment Share on other sites More sharing options...
oatbake Posted October 11, 2018 Share Posted October 11, 2018 The firesale starts: https://www.propertytribes.com/tax-bill-in-january-t-127636858.html Quote My accountant has told me what my self assessment tax bill is going to be in January, my dilemma is this, the only way i am going to be able to afford the bill is by selling one of my Properties to release the equity. With just 3.5months before the bill is payable, can i ask which method of sale would you recommend, high street estate agent or auction? If the agency route, how long should I give it and does anyone have any tips? Oh dear. Quote Link to comment Share on other sites More sharing options...
jiltedjen Posted October 11, 2018 Share Posted October 11, 2018 10 minutes ago, oatbake said: Oh dear. Love it! nothing like only a few months notice for these feck-wits. not sophisticated investors at all! we have been counting down for about 2 years now. anyone who cared to event having a passing interest in their own affairs could of known this was coming Quote Link to comment Share on other sites More sharing options...
Captain Kirk Posted October 11, 2018 Share Posted October 11, 2018 26 minutes ago, oatbake said: The firesale starts: https://www.propertytribes.com/tax-bill-in-january-t-127636858.html Oh dear. "my dilemma is this, the only way i am going to be able to afford the bill is by selling one of my Properties to release the equity." Quote Link to comment Share on other sites More sharing options...
oatbake Posted October 11, 2018 Share Posted October 11, 2018 19 minutes ago, Captain Kirk said: "my dilemma is this, the only way i am going to be able to afford the bill is by selling one of my Properties to release the equity." Hope he/she has factored in any CGT or she's going to get another shock soon... Quote Link to comment Share on other sites More sharing options...
Lavalas Posted October 11, 2018 Share Posted October 11, 2018 DONT LET THE TAX TAIL WAG THE INVESTMENT DOG ? Quote Link to comment Share on other sites More sharing options...
mrtickle Posted October 11, 2018 Share Posted October 11, 2018 2 hours ago, oatbake said: The firesale starts: https://www.propertytribes.com/tax-bill-in-january-t-127636858.html Oh dear. Oh, thankyou! I've had a really crappy day, and I can go to bed happy now. It's brought cheer to my sense of justice Quote Link to comment Share on other sites More sharing options...
mrtickle Posted October 11, 2018 Share Posted October 11, 2018 1 hour ago, oatbake said: Hope he/she has factored in any CGT or she's going to get another shock soon... Unfortunately Vanessa Warwick has spoilt the fun on that one by mentioning it, so the cat's out of the bag. Quote Link to comment Share on other sites More sharing options...
mrtickle Posted October 11, 2018 Share Posted October 11, 2018 2 hours ago, jiltedjen said: Love it! nothing like only a few months notice for these feck-wits. not sophisticated investors at all! we have been counting down for about 2 years now. anyone who cared to event having a passing interest in their own affairs could of known this was coming Yes and even before your wonderful thread, we've been anticipating reading things like this since July 2015. Quote Link to comment Share on other sites More sharing options...
Houdini Posted October 12, 2018 Share Posted October 12, 2018 6 hours ago, mrtickle said: Unfortunately Vanessa Warwick has spoilt the fun on that one by mentioning it, so the cat's out of the bag. I wonder if the accountant has included the first half of next years bill in the January payment or just the figure he’s calculated for the self assessment. Quote Link to comment Share on other sites More sharing options...
jiltedjen Posted October 12, 2018 Share Posted October 12, 2018 i knew the days would come when we start to see 'oh dear i seem to have fecked up' threads coming from the morons of the BTL 'community' utter joy! bring on the stories for January Quote Link to comment Share on other sites More sharing options...
thewig Posted October 12, 2018 Share Posted October 12, 2018 DOES ANYONE HAVE ANY TIPS??? just bang the rents up on the prop you’re gonna sell, adds instant equity as the lucky investor who you’ll be selling to at a premium will be snapping your hand off for your amazing yields ? Quote Link to comment Share on other sites More sharing options...
Pop321 Posted October 12, 2018 Share Posted October 12, 2018 2 minutes ago, thewig said: DOES ANYONE HAVE ANY TIPS??? just bang the rents up on the prop you’re gonna sell, adds instant equity as the lucky investor who you’ll be selling to at a premium will be snapping your hand off for your amazing yields ? Another tip. Don’t sell just borrow more on the ever expanding and increasing values of the property values. No problemo. ? Quote Link to comment Share on other sites More sharing options...
jiltedjen Posted October 12, 2018 Share Posted October 12, 2018 well there we go, an actual FORCED seller. The thing is this on a countrywide scale will mean a LOT of forced sellers, and again prices are set at the margins. Anyone who has left their powder dry can take advantage of these cheapo houses. what morons get themselves into a situation where they are forced to sell a very iliquid asset on a very short term time horizon, past peak selling months? and the wonderful thing is, most wont even of bothered to have an accountant, as there is no tax to pay anyway is there? lol! tax demand letters are going to be a mighty shock. Also i'm surprised this person is not a little angry at their accountant, surely they should of flagged the changes up 2 years ago? spelled it out clearly, or is that not how they work? do they just work tax year to tax year, or by appointment to appointment? its not like a solicitor going out of their way to tell you something concerning? Quote Link to comment Share on other sites More sharing options...
spyguy Posted October 12, 2018 Share Posted October 12, 2018 1 hour ago, jiltedjen said: well there we go, an actual FORCED seller. The thing is this on a countrywide scale will mean a LOT of forced sellers, and again prices are set at the margins. Anyone who has left their powder dry can take advantage of these cheapo houses. what morons get themselves into a situation where they are forced to sell a very iliquid asset on a very short term time horizon, past peak selling months? and the wonderful thing is, most wont even of bothered to have an accountant, as there is no tax to pay anyway is there? lol! tax demand letters are going to be a mighty shock. Also i'm surprised this person is not a little angry at their accountant, surely they should of flagged the changes up 2 years ago? spelled it out clearly, or is that not how they work? do they just work tax year to tax year, or by appointment to appointment? its not like a solicitor going out of their way to tell you something concerning? Tax demands and CGT payment are barely half the problem. S24 is going to hit portfolio LL the hardest. Most will have mortgages issued on 90% LTV. s long as they keep pyaing the mortgage then they are OK. Howver, if the LL go to borrow or sell or miss payment then the bank - or whoevers picked up the bust banks IO BTL book - will want to consolidate the full protfolio to get LTV down. Portfolio LL have two choices: - Suck up S24, keep paying the mortgage and 50% to HMRC. - Or try and refinance and get the mortgage removed. Two choices; one outcome - they are bust. Quote Link to comment Share on other sites More sharing options...
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