hifinutt
hifinutt
2 slight adjustments cgt allowance is now £3000 and higher rate cgt is 24% on sale of residential property i think , can some correct me if i am wrong
Housing market
- Thread starter matt j
- Start date
mandryka
pfm Member
I suspect all that's happened is that they've had a brainstorming session for ideas for generating some headlines. Attaboy, PR agent!
Mike Reed
pfm Member
Thanks; I've perused that Gov UK info before as it does not, unless I'm reading the wrong bits or e4xamples, mention whether the chargeable part of CGT can be added to a NON tax-paying person (i.e. one who is well below the income allowance). If it is, Bob, one is effectively getting two ots of allowance. As pretty often when I have a tax query, Gov UK is never explicit to my query or sends me round in circles via links.
Ex. My wife has, say, £5K unused of her £11570 tax free allowance. She sells her part of a property, gaining, say, £20 after the £3K allowance is deducted. Is she then only charged CGT on the £15K ?. This is not academic as we'll be in this situation before long and she has a majority equity holding in a property.
indeed , many are now listed buildings
The Wake Green Road Prefabs « Birmingham Conservation Trust
www.birminghamconservationtrust.org
take a trip down Wake Green Road and you could be forgiven for thinking you’d stepped back in time. Sitting back off the road, behind their front gardens, you’ll find a row of seventeen 1940s’ Phoenix design prefabs.
The Grade II listed Phoenix prefab bungalows in Wake Green Road were designed and manufactured by John Laing, McAlpine and Henry Boot, as part of a consignment of 2,428 prefabs supplied to the Ministry of Works under the Temporary Housing Programme. These temporary homes were only expected to be in use for ten years but 70 years on they are still in use. There are no other known surviving Phoenix prefabs still lived in which makes these extra special.
They made good little houses, we've still got one in the village. Slightly concerned about the asbestos content but that won't matter until it's demolished. I'd happily live there, might just put a conservatory on the East end.
Bob McC
Living the life of Riley
I misunderstood. You cannot use your income tax allowance as a CGT relief.
We were in exactly this position a few years ago. Luckily when the CGT allowance was a decent amount.
flutteringwow
She called me baby, like an old romantic
A rather interesting and good bit of documentarying (intentional made up word, pedants wipe your brows its ok, no one got hurt)..
hifinutt
hifinutt
Ah its not good though , thousands upon thousands cannot afford to buy and its renting that is only option till things change .just now selling a tenanted house to tenants .2 bed with parking in reasonable area , they pay 700 pcm now and i think they are looking at aound double that per month to buy it even at a discount . 1400 pcm is just not affordable to so many and they have really struggled .its cheaper to rent at the moment
There are so many in this situation at the moment and things need to change. When Keir gets in in November he will bring back epc c as a minimum for rental . As mentioned many times many houses are not capable of achieving a c as this will further reduce the stock of housing for renters .this requirement for epc c will further reduce the desire to provide rental
flutteringwow
She called me baby, like an old romantic
Will take time to sort out from the greedy landlords and multiple home owners. Sadly, social shift will always have causualties to ensure that the many more to come do not have to endure the same.
My only concern, really, is not for the woes of landlords, but that, as we have seen before (video above covers it quite well) ultra wealthy Tory landlord groups will buy up any properties ending up on the market if the price bottoms out...but then again, if the prices bottom out, real people will be able to purchase.
People affording rent at £2k a month for the past decade, yet can't get a mortgage for £1500. Sounds like it was all a masterplan no?
mandryka
pfm Member
Are you sure?
kensalriser
pfm Member
Absolutely laughable. Utter nonsense. And it can't be brought back as it has never been C. Outside chance it will be moved from E to D for new rentals.
hifinutt
hifinutt
You are more of an expert than i but yes i think he will bring it back which is a pitb !! Last year i tried to get a 70 s ex council house cavity wall insulation to bring it from d to c .when they turned up it was over 75 m from the nearest rd and they could not get their pipe that far so they refunded me . Very upsetting , the person there has been very happy for over 10 years and if it is compulsory to be a c then mortgage co will not renew the mortgage i think
We are already seeing refusal of mortgages for places at flood risk and we could do without epc being stricter
hifinutt
hifinutt
Until Sunak abolished it it was going to be compulsory to go from d to c in 2025 .
kensalriser
pfm Member
From 2028 for new rentals. And there were reasons the proposals haven't been implemented. Even if it comes back it won't be before 2030 so plenty of time to prepare.
hifinutt
hifinutt
We shall see ! Lets hope so
mandryka
pfm Member
RR went to HoL today. We know that the Labour Party has said they will abolish no fault evictions without waiting for a more satisfactory court procedure to be implemented. It may take months or years to get rid of a tenant who behaves in an anti social way, or breaks his contract in some other way.
Landlords are well advised to act now to evict any tenants who are problematic. There is only a small window of opportunity. And they are well advised to vet very carefully any future tenants.
Landlords are well advised to act now to evict any tenants who are problematic. There is only a small window of opportunity. And they are well advised to vet very carefully any future tenants.
mandryka
pfm Member
I had the same problem with your VAR!
hifinutt
hifinutt
dreadful story here
Every evening Heidi Dodson reads her grandchildren a bedtime story and wishes them good night.
Then she quietly packs a rucksack with a torch, biscuits and some toilet roll, and makes a flask of tea, before making her way to a local park to spend the night.
“You think about what you had - the safety of your own home, key, roof over your head,” Heidi says. “It’s these things that are going through your mind when you are out in the cold and sleeping on a park bench.”
The 57-year-old former shop assistant was recently served a section 21 “no-fault” eviction after seven years living in a private rented property she had secured through the council.
Heidi was turned down for priority housing by the local housing department and told that even if she had to “sleep rough occasionally or in the longer term", she would not be more vulnerable than anyone else in the same situation. The council has since apologised for the wording of the letter and says it is supporting her to find a suitable home.
Every evening Heidi Dodson reads her grandchildren a bedtime story and wishes them good night.
Then she quietly packs a rucksack with a torch, biscuits and some toilet roll, and makes a flask of tea, before making her way to a local park to spend the night.
“You think about what you had - the safety of your own home, key, roof over your head,” Heidi says. “It’s these things that are going through your mind when you are out in the cold and sleeping on a park bench.”
The 57-year-old former shop assistant was recently served a section 21 “no-fault” eviction after seven years living in a private rented property she had secured through the council.
Heidi was turned down for priority housing by the local housing department and told that even if she had to “sleep rough occasionally or in the longer term", she would not be more vulnerable than anyone else in the same situation. The council has since apologised for the wording of the letter and says it is supporting her to find a suitable home.
Homelessness: Evicted grandmother now sleeping rough in park
Heidi Dodson's council rejected her for priority housing, and told her she would cope on the streets.
www.bbc.co.uk
mandryka
pfm Member
I wonder what the details of that are - private rental secured through the council. Anyway, it shows the extent to which social housing has been privatised, with councils doing deals with private owners to sublet for a while. The council's letter was insensitive of course, and they have a duty to rehome her - but they may not be able to discharge the duty.
I haven't thought how RR will change the arrangements councils have come to to sublet privately owned accommodation. How will the owners get their property back empty?