General Discussion: best/worst


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stoney
stoney avatar

16709 posts since 22/1/05

17 Jan 2014 13:04
worst : got to pay a grand in tax for the last 12 months for a flat i rent out that i lose money on, plus its only just out of negative equity. Accountant says its a liability on the repayment portion. There must be a dodge for this ?! He says not.
hang_on_voltaire
hang_on_voltaire avatar

478 posts since 11/11/09

posted 17 Jan 2014 13:39, edited 17 Jan 2014 13:39
Gotta pay tax on repayment part of mortgage (not the interest part). More tax efficient to have an interest only mortgage on a rented out place. On of the first things your accountant should have made you aware of when you decided to be a landlord…
Double D
Double D avatar

3386 posts since 8/3/07

17 Jan 2014 13:40
I'm thought you only pay tax on profit after mortgage deduced, either that or I was committing tax fraud for a few years.
hang_on_voltaire
hang_on_voltaire avatar

478 posts since 11/11/09

17 Jan 2014 13:45
No, you pay tax on profit if any, and tax on repayment part of mortgage, you don't get to have your tenants pay off your mortgage tax free. You may have had int only mortgage…
Double D
Double D avatar

3386 posts since 8/3/07

posted 17 Jan 2014 14:02, edited 17 Jan 2014 14:02
Ah that makes sense now, your first reply wasn't showing when I posted. Didn't know that but would've presumed everyone would be paying interest only on BTL properties.
AMK
AMK avatar

308 posts since 7/1/13

26 Jan 2014 20:27
Worst : dad lost his job a couple of weeks ago
Wooster : Found out yesterday mum has cancer, and it doesn't look like they can do anything about it

When it rains, it pours
Noble Locks
Noble Locks avatar

66963 posts since 10/7/03

26 Jan 2014 20:28
Fuck. Fuck. Fuck. Gutted mate. Truly gutted. Sad
rural
rural avatar

16483 posts since 26/9/06

26 Jan 2014 20:31
Sorry to hear that eent
MoB
MoB avatar

35267 posts since 31/8/04

26 Jan 2014 20:31
thats terrible man Cry
EVERS
EVERS avatar

8580 posts since 2/7/06

26 Jan 2014 20:35
shocking news Sad stay focussed
Crackajack
Crackajack avatar

5687 posts since 21/4/05

26 Jan 2014 20:39
That's awful.
PHiL
PHiL avatar

8741 posts since 31/8/03

26 Jan 2014 20:53
MoB wrote: thats terrible man Cry
Noble Locks
Noble Locks avatar

66963 posts since 10/7/03

posted 26 Jan 2014 20:54, edited 26 Jan 2014 20:54
EVERS wrote: shocking news Sad stay focussed
Focussed on what, your mums impending death?
Sorry man, i know you aint in any way meaning to be insensitive, but thats up there with that kid who said 'chin up' to someone on here who had someone really close die.
Noble Locks
Noble Locks avatar

66963 posts since 10/7/03

posted 26 Jan 2014 20:58, edited 26 Jan 2014 20:58
X will fuck fucking off you freak cunt. Geezers mums dying and you are giving spelling lessons and not condolences you insensitive bell end.
deuce
deuce avatar

13155 posts since 21/1/08

26 Jan 2014 21:01
rural wrote: Sorry to hear that eent
Noble Locks
Noble Locks avatar

66963 posts since 10/7/03

26 Jan 2014 21:04
If twitter can try and put you in prison, then why cant fuk just fuck you off. Creepy cunt, you weird me right out,
Guido
Guido avatar

12852 posts since 20/4/05

26 Jan 2014 21:11
Sorry to read that news.
RickRude
RickRude avatar

2439 posts since 13/1/12

26 Jan 2014 21:11
Mr X number one weird no bird cunt fucking go and top yourself
EVERS
EVERS avatar

8580 posts since 2/7/06

26 Jan 2014 21:13
noble shitting up the thread Puzzled
RickRude
RickRude avatar

2439 posts since 13/1/12

26 Jan 2014 21:14
Mr X shitting up the thread on a grammar mission