A house I rent out at a loss? CSA enquiries.

HoneyNutLoop

No Departures remain the relevant legislation for CS1, variations is just for CS2, although I believe the term used under CS3 is still variations, but a different set of legislation. The law for CS2 was drafted and passed long before it came into force, mainly through 2000 and 2001.

Fission

Rouge_Diablo wrote: »

...at the risk of identifying myself a little more, I worked for the Emergency Services. Know staff in the other two, as well as all the colleagues in my particular one. I also know Teachers and NHS Staff. All their Unions, and CSA advisors say the same. The CSA cannot touch your lump sum in the final pension deal.

They're all wrong if they say that. A capital asset (including cash in an account) amounting to £10,000 (old scheme) or £65,000 (new scheme) CAN be taken into account by way of a Variation.

A £100,000 asset would produce an imputed (extra net) income of £8,000, increasing liability by up to £2,000 pa (£38.46 week).

Fission

HoneyNutLoop wrote: »

Marisco, I do not believe there is an equivalent assets ground under departures under CS1, although I'm not 100% sure.

There IS an equivalent under CS1. For an asset of £100,000, the outcome would be the same under either scheme.

HoneyNutLoop

Fission wrote: »

There IS an equivalent under CS1. For an asset of £100,000, the outcome would be the same under either scheme.

Thanks, that's good to know.

romanempire

Fission wrote: »

A £100,000 asset would produce an imputed (extra net) income of £8,000, increasing liability by up to £2,000 pa (£38.46 week).

They're having a laugh. Getting anywhere near an 8% return on your money is pretty unlikely these days unless you take a very risky punt. Would the liability end if you lost your money?

R.