Daydream thread continues.....

rozeepozee

lostinrates wrote: »

Actually i think btl is different, and yes, they are liable for cgt, but not if the ll moves in himself for three months and makes it their home for purposes of selling.


The problem is different in properties where we both live and work. A more interesti g comparison would be the lodger scenario...where a tax free amount is fine, and tax should payable at threshhold over that allowance. Irony is of course, it pushes things into the cash economy.

BTL mortgages are an alternative to residential mortgages and usually the money will only be lent where there's going to be an assured shorthold tenancy offered so holiday letting isn't permitted. BTL are a relatively recent phenomena. Since the late 90s I think. Alternative is a commercial mortgage at much higher interests rates...

Strictly lodger income should be declared on a tax return and is tax free up to £80 per week under the Rent a Room scheme. You could go this route to rent an annexe, but you can't offset any expenses against this income if you do.

Wow, I'm a mine of dull information tonight

lostinrates

rozeepozee wrote: »

BTL mortgages are an alternative to residential mortgages and usually the money will only be lent where there's going to be an assured shorthold tenancy offered so holiday letting isn't permitted. BTL are a relatively recent phenomena. Since the late 90s I think. Alternative is a commercial mortgage at much higher interests rates...

Strictly lodger income should be declared on a tax return and is tax free up to £80 per week under the Rent a Room scheme. You could go this route to rent an annexe, but you can't offset any expenses against this income if you do.

Wow, I'm a mine of dull information tonight

Sure, i get that. My point is exactly that btl is different and financed differently (cut my teeth here on the home buying and house prices boards!)Doesn't negate the fact tax can be avoided if they are mortgage free or paid off and the owner moves in, does it? Seen it discussed frequently enough!

choille

I think then you become liable for commercial rates on your premises & here 9Scotland) cannot use a private water supply unless it's certificated/tested once a year which is another expense.

Lovely and mild outdoors still - just been out to chuck the peelings over the fence to the sheeps. OH still working in his wee caravan - not enough hours in the day........

Davesnave

alfie_1 wrote: »

evening all.........
davesnave...you have this knack of remembering the most hilariously obscure moments in your/your families life that makes me laugh my sox off...[child wetting themselves in A spot 20yrs ago !! amongst many others:rotfl::rotfl:] and you say them as casually, like we say "we went shopping".....:D

But it wasn't casual at the time! There I was, in the garden of a reasonably famous nurserywoman, with all kinds of treasures to look at, and instead of enjoying the moment, I have a wailing, whinging child and I can't concentrate. :mad:

Actually, we've been doomed with Carol's place. Second time we went, we had to work from memory and it took some time to find it. Then, when we finally parked-up and sauntered in, she said, "Sorry, we don't open on Sundays."

Itismehonest

choille wrote: »

I think then you become liable for commercial rates on your premises & here 9Scotland) cannot use a private water supply unless it's certificated/tested once a year which is another expense.

Lovely and mild outdoors still - just been out to chuck the peelings over the fence to the sheeps. OH still working in his wee caravan - not enough hours in the day........

Yes, it's much the same in England, choille. If you have a private water supply & anyone other than your family is drinking it (so, obviously, if a place is let) it must be tested & passed fit at least once a year. The more public that use the supply the more regularly it has to be tested.
You're also meant to have a risk assessment every 5 years but I don't know what that involves as the legislation didn't come in until after we retired.
As there's only us here now we are classed as a private dwelling so don't have to go through any of the testing/assessment rigmarole any more. We always passed anyway & we still have the full UV & filtration system.

rhiwfield

Day off tomorrow, up to Brecon with DW, drop off a dinner service, do a bit of shopping, pub lunch and enjoy the scenery.

I read the red tape issues on here and sympathise with those of you going through the hurdles. I suppose it goes with the territory but it cant be easy

Alf, just a t-shirt?!! Shoes as well, surely

And I'm sort of lucky to still be here, age 7 cut through a live mains lead with scissors (rubber soled shoes), age 13 drowning in a lagoon off the Loire (French lad saved me) and later totalled a Volvo on black ice (seat belts just introduced and I was wearing one upside down in the ditch).

alfie_1

rhiwfield...well it is a "bird" nature reserve !!:rotfl: but even im not that brave, wellies....

Lotus-eater

How quickly you forget

DD said to me about 2 hours after darkness, haven't we got to lock the chickens up?.... Cue me jumping up and running outside, must try and remember that in future.

alfie_1

talking of BIRDS....
im becoming a twitcher....twitching with anger that is.:mad:
here in the forest in the last 2 weeks they have shut off some car parks with proudly displayed signs asking [telling] us not to park/walk our dogs due to the possibility of disturbing nesting birds in that area....NO PROBLEM I THINK.... until i look to my left and see a large area of gorse etc being BURNT :eek: [by the FC]...?????? i think this is a bit hypocrytical ?? due to our mild winter the birds are nesting earlier than usual and the FC have been given an extension for "burning"..... :mad:

Itismehonest

Lotus-eater wrote: »

How quickly you forget

DD said to me about 2 hours after darkness, haven't we got to lock the chickens up?.... Cue me jumping up and running outside, must try and remember that in future.

Ooops. Glad they were OK. The foxes around here seem to be out more & more during daylight hours. A number of people have noticed it.

At least those of us on private water don't have to worry about any hosepipe bans. If you're on private & run out ....... you just run out. Fingers crossed we never have but neighbours do.
It sounds like our dreamers around London & more to the east have a ban coming up soon. It will be out in the garden with the old washing up water again.