Forthcoming increases in rents will ...

wotsthat

Thrugelmir wrote: »

The rules will tighten wherever people run too.

So don't avoid tax today because the rules might be tightened tomorrow?

Sounds defeatist and expensive.

chucknorris

wotsthat wrote: »

So don't avoid tax today because the rules might be tightened tomorrow?

Sounds defeatist and expensive.

I'm really hoping that a flat rate of pension tax relief isn't announced in this years budget (if so, it would probably be introduced the following year). It would mean no more avoiding excessive tax by investing in my SIPP, which would push me into the 60% marginal tax band, with another 12% going on NI and work related expenses, I just can't see myself accepting that I take home only 28% of my pay. I've already told my employer that I was retiring this summer, but then changed my mind, they are going to think I'm nuts, if I change my mind again.

wotsthat

chucknorris wrote: »

I'm really hoping that a flat rate of pension tax relief isn't announced in this years budget (if so, it would probably be introduced the following year). It would mean no more avoiding excessive tax by investing in my SIPP, which would push me into the 60% marginal tax band, with another 12% going on NI and work related expenses, I just can't see myself accepting that I take home only 28% of my pay. I've already told my employer that I was retiring this summer, but then changed my mind, they are going to think I'm nuts, if I change my mind again.

I've some unused carry forward. I'd consider borrowing (don't tell Crashy) to make sure I entered any flat rate system fully topped up.

I'm hoping for a few more years of empty threats.

MEM62

Crashy_Time wrote: »

No, businesses in loss making situations can go bust, and the assets sold on, nothing to say rent increases will be forthcoming.

A reasonable point but these are private individuals. Going bust in these circumstances is a completely different prospect to putting a limited company into liquidation.

mwpt

MEM62 wrote: »

A reasonable point but these are private individuals. Going bust in these circumstances is a completely different prospect to putting a limited company into liquidation.

I have a shed in my back garden I could let to them if they go bust. I will only charge market rates and no more because I'm generous like that. Free use of the hose pipe each week for showers.

Crashy_Time

MEM62 wrote: »

A reasonable point but these are private individuals. Going bust in these circumstances is a completely different prospect to putting a limited company into liquidation.

Bust is bust, the paperwork may be different but the business model no longer works in either case?