** Funds Messed UP **

bigisi

Cynical_Monkey wrote: »

I'm calling dodgy on this one difficultguy.

In 2012, you wanted to know if you could buy a property in either your Neice or mum's name to prevent it being part of any potential divorce settlement in the future.

In 2014, you said "I bought a detached broken property which I fully renovated it and I am moving into my house"

This sounds to me that you bought a property, renovated it, sold it and then didn't have any capital gains tax to pay because there was no profit, i.e you "repayed a loan" to your brother.

I may be mis-judging massively but the tone of this thread combined with the "hiding" of 50k so that it isn't in your name seems very very dodgy.

For example, you says you're terrible with money and therefore saved in your brothers account - This makes sense up until the point that you said you have 50k in his account and 30k in yours. If you're so bad with money, why not have 80k in his account?

You then went on to say "I have recently got some issues with my partner. I dont want to risk my investment." - This makes it sound like your partner doesn't know about the 50k and as part of a divorce or something, you want to make sure he/she doesn't get any of it.

What I'm getting at here is that if you've avoided capital gains originally by "repaying a loan", the money isn't yours and will need to be gifted back to you before you can use it. Equally, if you're married and are potentially getting divorced, you will likely lose a big chunk of that cash anyway plus a little more for deliberately trying to hide it from your partner without a pre-nuptual agreement.

I hope for your sake that all of the savings can be tracked and there's no tax avoidance in play as HMRC will likely find out about it sooner rather than later.

As I said, I may have misjudged massively and I'm sorry if I've offended you with anything in this post - 1 plus 1 doesn't always equal 2

Think that about hits the nail on the head. Don't know why OPs can't just be honest from the outset.

difficultguy

hazyjo wrote: »

What sort of area? Only £80k doesn't get you very much so I'm not sure why you think property would be the best way to invest that money. There are lots of other options rather than letting it sit in a bank account.


Do you have a job lined up? Might you actually need that money to live on? (PS Actually, just re-read your last post and not sure if you are now redundant or if you're still working full time? Was it redundancy money from a while ago?)

Thanks for your reply.

I live in northwest and property prices here are NOT anywhere close to London prices. One can buy a liveable property around £80K here.

or I can possible upgrade my property.


Yes, I already have got a temporary part time and I am still applying some professional jobs. its just over a month since my last office was closed down.


(There are lots of other options rather than letting it sit in a bank account.)

I will appreciate if you discuss some decent options here, PLEASE

difficultguy

]


Thanks for your message but you have mixed up lot assumptions with few facts.

difficultguy

grilling

edited

SallyDucati

OP - I think the crux here is no-one can understand why you put the funds in your brothers account rather than setting one up for yourself. It does sound unusual, and when you start mentioning you have issues with your partner it comes across like you MAY be hiding the funds from them for whatever reason.

I don't want to sound accusatory, but that is how it is coming across.

Sorry - just seen your response above.

hazyjo

This is all starting to sound very familiar...


Looking to buy a house as a rental. Lent (not borrowed) money to friends/family... :think:

difficultguy

SallyDucati wrote: »

OP - I think the crux here is no-one can understand why you put the funds in your brothers account rather than setting one up for yourself. It does sound unusual, and when you start mentioning you have issues with your partner it comes across like you MAY be hiding the funds from them for whatever reason.

I don't want to sound accusatory, but that is how it is coming across.

Sorry - just seen your response above.

<like you MAY be hiding the funds>

Oh my GOD, you are such a freak.

Who am I hiding this funds from? I looking to invest this money, either to upgrade my property or buy an investment property. I was just asking, how to go around to sort of money between us.

I think, you need to be a positive man. if you can ....

SallyDucati

difficultguy wrote: »

<like you MAY be hiding the funds>

Oh my GOD, you are such a freak.

Who am I hiding this funds from? I looking to invest this money, either to upgrade my property or buy an investment property. I was just asking, how to go around to sort of money between us.

I think, you need to be a positive man. if you can ....

All I was saying is that it is how it was coming across as it is very unusual for someone to put funds in someone elses name, and then you brought difficulties in your relationship into it. You clarified why while I was typing and edited my post to say sorry.

Comms69

Curious, if you lost money to friends, why you would then transfer the money again to a 3rd party, who could just do a runner with it

difficultguy

.. n/a

how to delete a thread?