Countdown to Freedom

Karmacat

Tilly, I'll look forward to hearing about you walking your own land - that used to be such an important custom, back in the day, and I love the sound of it

Enjoy your time off, when it happens.

Tilly_MFW_in_6_YRS

greent wrote: »

How exciting!!


Don't wear yourself out too much in the run up to Christmas xx

I am conscious that there's a lot on at the moment and I'm not sure what's driving the busyness, as it's certainly not all Christmas. I think we'll seem to go through phases where things are mad for a while.

I am looking forward to sitting in our garden in Portugal, having a pomegranate and sparkling wine cocktailly thing in my hand and listening to the birds. The smell of the air, the wood burning fire being lit late afternoon, the stars - boy, it sounds like I'm writing a holiday ad :rotfl::rotfl::rotfl:

I've checked the garden and there's tons of oranges to pick when we're there.

I'd better crack on, best wishes, Tilly x x

gallygirl

Tilly_MFW_in_6_YRS wrote: »

Regardless of any other plans, our house in the UK, will be going up for sale in the Spring next year.

I'll catch up with everyone diaries over the next few weeks but if I disappear for a couple of weeks, no need for a search party - in the words of Schwarzenegger "I'll be back"

:eek::eek::eek: I don't thunk that's right - I've seen what happens when you disappear into Rightmove :eek::eek::eek:.

Tilly_MFW_in_6_YRS

Eager_Elephant, you've postd some really interesting comments and it has helped me consider some of the options abroad. We definitely have the room and as we would be doing this as a hobby, small income stream, taking a period off to travel would be perfectly feasible, as we would not replace the pigs for example, after they were despatched.

Given I'm an animal lover and a meat eater, it would be great to know that the beautiful creatures had been well looked after and lived a good life. I'd feel pretty happy with that, as would Mr T.

I am going to contact the local council to check what documentation is required, plus see what the EU subsidies are for. They vary apparently.

I've contacted a couple of estate agencies to talk about buying and have spoken to two letting agencies. Mr T is keen to have a letting agency find the tenants but us manage it. Maybe we could walk the hounds round if there's ever a problem :rotfl::rotfl::rotfl:

Nothing will be bought until this is sold but it's going to be an interesting next chapter, verging on a book . I've also done some research about what people are looking for when they look at properties to rent. New spreadsheet created to manage the mortgage overpayments. We aim to be MF (again) by 2018 but this time without me doing the same type of role. Although attitudes vary re clearing B2L mortgages, we are interested in owning them outright.

Best wishes, Tilly x

gallygirl

Tilly_MFW_in_6_YRS wrote: »

Although attitudes vary re clearing B2L mortgages, we are interested in owning them outright.

I think it needs careful consideration. And certainly you need to compare mortgage interest amounts vs the benefits of it being tax deductable - especially important when you're a 40% tax payer, or living overseas as Mr Osborne is planning on scrapping tax allowances on rental income . But there is something wonderful about getting rent paid to you when all you have to put aside is some (well, a lot!) for tax and maintenance. All the rest is yours to keep. It's like free money really :rotfl:.

Karmacat

gallygirl wrote: »

I think it needs careful consideration. And certainly you need to compare mortgage interest amounts vs the benefits of it being tax deductable - especially important when you're a 40% tax payer, or living overseas as Mr Osborne is planning on scrapping tax allowances on rental income . But there is something wonderful about getting rent paid to you when all you have to put aside is some (well, a lot!) for tax and maintenance. All the rest is yours to keep. It's like free money really :rotfl:.

:eek::eek::eek: Noooooooooooooooo!

Tilly_MFW_in_6_YRS

gallygirl wrote: »

I think it needs careful consideration. And certainly you need to compare mortgage interest amounts vs the benefits of it being tax deductable - especially important when you're a 40% tax payer, or living overseas as Mr Osborne is planning on scrapping tax allowances on rental income . But there is something wonderful about getting rent paid to you when all you have to put aside is some (well, a lot!) for tax and maintenance. All the rest is yours to keep. It's like free money really :rotfl:.

We need to see a FA as we will be off overseas but in around three years, until then we will both be high rate tax payers. That's high, not the highest

Tilly x x

gallygirl

Karmacat wrote: »

:eek::eek::eek: Noooooooooooooooo!

https://www.accountancylive.com/personal-tax-allowance-expats-review

Scrapping it for income from UK properties paid to overseas landlords, not the other way round.

Karmacat

And breathe .... thanks Gally

Tilly_MFW_in_6_YRS

Need to run our pre retirement plans as though it's a programme, with multiple projects.

Marvellous, now I'm in a happy place which is way more familiar :j

Tilly x