Bland Unsight Posted July 31, 2015 Share Posted July 31, 2015 OK, enough of the beasting of the Property118 guys, we need to help them find a way out. I'll start us off. There are, apparently, under CGT a category of wasting assets (see here) hence if the Property118 guys could pull together and paint all their rental properties to look like classic cars, old clocks, racehorses or fine wine and convince the Revenue that the people who appeared to be inside the assets were perhaps gear sticks, pendula, horses' c**ks or corks, they are off the hook on the CGT. Any other ideas? Quote Link to comment Share on other sites More sharing options...
XswampyX Posted July 31, 2015 Share Posted July 31, 2015 (edited) How about... 1. Build a time machine. 2. Go back 15 years. 3. Kick your younger self up the a$$ for being so stupid. Number 3 is easy! Edited July 31, 2015 by XswampyX Quote Link to comment Share on other sites More sharing options...
thecrashingisles Posted July 31, 2015 Share Posted July 31, 2015 Declare HPI a new religion and have BTL properties designated as places of worship. Ask passers-by for donations to placate the gods. Quote Link to comment Share on other sites More sharing options...
XswampyX Posted July 31, 2015 Share Posted July 31, 2015 What about getting five jobs to pay your massive tax demands and wait for HPI to resolve your problem.... It will only take about 30 years. Then sell it all to be debt and asset free! Quote Link to comment Share on other sites More sharing options...
little fish Posted July 31, 2015 Share Posted July 31, 2015 Hand over the houses as works of art under the conditional exemption scheme. They would be exempt from capital taxes if the new owner agrees to preserve the art work, make it publically available and to keep it in the UK. Instead of Banksy we could have bankrupt art in every town? Would that work? Quote Link to comment Share on other sites More sharing options...
thecrashingisles Posted July 31, 2015 Share Posted July 31, 2015 Hand over the houses as works of art under the conditional exemption scheme. They would be exempt from capital taxes if the new owner agrees to preserve the art work, make it publically available and to keep it in the UK. Instead of Banksy we could have bankrupt art in every town? Would that work? Fergus Wilson could enter himself for the Turner prize. Quote Link to comment Share on other sites More sharing options...
little fish Posted July 31, 2015 Share Posted July 31, 2015 Fergus Wilson could enter himself for the Turner prize. lol The didn't turn out very well prize love the places of worship idea and more importantly it is more suited to the mentality of the righteous house providing brigade. Quote Link to comment Share on other sites More sharing options...
Bland Unsight Posted July 31, 2015 Author Share Posted July 31, 2015 Fergus Wilson could enter himself for the Turner prize. TCI brings the rain as usual. I like it. Just imagine pseudish art critics peering at his puce face and discussing what the artist is alluding to by choosing this absurdly ruddy hue: Critic: It speaks to both his humanity and lack of it. What is more human than blood? And yet when the use of colour is so excessive the effect is monstrous and speaks to absolute inhumanity. I think it's a masterpiece. Quote Link to comment Share on other sites More sharing options...
Neverwhere Posted July 31, 2015 Share Posted July 31, 2015 I'm not sure what the problem is, surely everybody knows that houses cease to exist once landlords no longer own them? No extant asset, no capital gains tax due Quote Link to comment Share on other sites More sharing options...
The Knimbies who say No Posted July 31, 2015 Share Posted July 31, 2015 They could throw cress seeds around the carpets then grow miniature forests then divide the mature cresslands into plots and put them up for sale under a generous tax system and advertise beside motorways to miniature people who have lots of miniature money but little time to enjoy wandering amongst green leafed calming pastures. As the tenure of miniature cresslands would naturally exclude overnight stays the miniature people could have a 'Section 21' ceremony every night as part of the purchase price. Quote Link to comment Share on other sites More sharing options...
Exiled Canadian Posted July 31, 2015 Share Posted July 31, 2015 OK, enough of the beasting of the Property118 guys, we need to help them find a way out. I'll start us off. There are, apparently, under CGT a category of wasting assets (see here) hence if the Property118 guys could pull together and paint all their rental properties to look like classic cars, old clocks, racehorses or fine wine and convince the Revenue that the people who appeared to be inside the assets were perhaps gear sticks, pendula, horses' c**ks or corks, they are off the hook on the CGT. Any other ideas? 1. Get a proper job 2. Start a proper business Quote Link to comment Share on other sites More sharing options...
Neverwhere Posted July 31, 2015 Share Posted July 31, 2015 1. Get a proper job 2. Start a proper business Quote Link to comment Share on other sites More sharing options...
Bland Unsight Posted July 31, 2015 Author Share Posted July 31, 2015 1. Get a proper job 2. Start a proper business That's not gonna work for these guys, be reasonable. We're not looking for miracles here. We're looking for solutions. Quote Link to comment Share on other sites More sharing options...
Exiled Canadian Posted July 31, 2015 Share Posted July 31, 2015 That's not gonna work for these guys, be reasonable. We're not looking for miracles here. We're looking for solutions. You want the world don't you. I had also listed - "Stop Whining" - but concluded that was beyond them. All I can suggest then is to take up sea canoeing. Quote Link to comment Share on other sites More sharing options...
BorrowToLeech Posted July 31, 2015 Share Posted July 31, 2015 (edited) That's not gonna work for these guys, be reasonable. We're not looking for miracles here. We're looking for solutions. No problem: http://www.entitledto.co.uk Or how to sell your soul to the devil Oh, no, wait; they already did that didn't they? Edited July 31, 2015 by BuyToLeech Quote Link to comment Share on other sites More sharing options...
Byron Posted July 31, 2015 Share Posted July 31, 2015 FOR SALE BUSKING PITCH Busy suburban main road near station Suit feckless ne'er-do-well or ex BTL Landlord. Comes with free dog and guitar. Quote Link to comment Share on other sites More sharing options...
long time lurking Posted July 31, 2015 Share Posted July 31, 2015 Turn to crime ,Vietnamese tenants only need apply Quote Link to comment Share on other sites More sharing options...
jiltedjen Posted July 31, 2015 Share Posted July 31, 2015 Increase in house-fires? Quote Link to comment Share on other sites More sharing options...
Bland Unsight Posted July 31, 2015 Author Share Posted July 31, 2015 (edited) This is good work people. I'm pretty sure we're lifting their spirits and getting them in the right place emotionally to contact a good insolvency practitioner and get this done. Their tenants needn't even know it had happened. One last chance so save something from the wreckage; a renewed relationship with their humanity. It'll be rough, it is the end of a beautiful dream. But it was just a dream. Now it's time to return to the real world. Edited August 1, 2015 by bland unsight Quote Link to comment Share on other sites More sharing options...
XswampyX Posted July 31, 2015 Share Posted July 31, 2015 I'm surprised nobody offered up the obvious solution? Talk up the BTL'er's position while quietly, on the sly, sell all your properties before the CRASH happens! This would fit into the BTL ethos in a heart beat. Don't you think? Quote Link to comment Share on other sites More sharing options...
Bland Unsight Posted July 31, 2015 Author Share Posted July 31, 2015 I'm surprised nobody offered up the obvious solution? Talk up the BTL'er's position while quietly, on the sly, sell all your properties before the CRASH happens! This would fit into the BTL ethos in a heart beat. Don't you think? I think this works because it is the ultimate BTL cognition solution. The problem is the CGT bill so just ignore the problem and act as if it didn't exist and thus sell. Book a nice holiday and brag to fellow hotel guests about how you made ££££s in property. When the CGT bill arrives, this: Quote Link to comment Share on other sites More sharing options...
XswampyX Posted July 31, 2015 Share Posted July 31, 2015 Like fight club? The first rule of BTL insolvency is not to talk about BTL insolvency. I get it, and will try my hardest not to mention it a least every 5 minutes! Quote Link to comment Share on other sites More sharing options...
Byron Posted July 31, 2015 Share Posted July 31, 2015 (edited) DO YOU SUFFER FROM. OVER-GLOATING? This life threatening, crippling disease has become prevalent since the 2015 budget. WHO officials, hospitals, specialists etc., are baffled. Typical sufferers giggle incessantly, turn blue in the face and have to be rushed to hospital. Only heavy sedation and oxygen therapy can help. There is no cure, but it has been likened to an allergy. Quite normal people, generally would be first time buyers can be struck down out of the blue as it were. It has been found that they exhibit hyper-sensitivity to words such as 'Wilson, Capital Gains Tax, Interest only, my pension innit, double every 7 years, tax relief, Osborne.' NOW, relief is at hand, OVERGLOATERS ANONYMOUS, offers a Twelve Step programme to combat the worst effects of this terrible affliction. Join OA today Edited July 31, 2015 by Byron Quote Link to comment Share on other sites More sharing options...
The Knimbies who say No Posted July 31, 2015 Share Posted July 31, 2015 (edited) They could turn their house into an ISA and demand the physical manifestation of a 'tax free wrapper', I guess it'll look like that yellow cellonphane which used to protect window displays circa 1985. Edited July 31, 2015 by Cry and Regret Quote Link to comment Share on other sites More sharing options...
long time lurking Posted July 31, 2015 Share Posted July 31, 2015 I'm surprised nobody offered up the obvious solution? Talk up the BTL'er's position while quietly, on the sly, sell all your properties before the CRASH happens! This would fit into the BTL ethos in a heart beat. Don't you think? It`s already happening ,if you read the LL forums the feelers are being put ou,they are weighing each other up at lest they have worked out it`s not a good idea to be the last one to jump Quote Link to comment Share on other sites More sharing options...
.thumb.gif.fc4f6a71f71b2db3894cdeace5105652.gif)
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.