Interest rates

[HowieDog]

A little known fact…

If you are a property landlord you can get your tax free personal allowance increased by nearly 60% from £12,570 to over £20,000.

No national insurance to pay on the additional £7,500 income either.

Lodger

 

[larrylamb]

I see we got a bollocking from the IMF !

Apparently it was the shortest email ever.

 

[johnyboy]

A little known fact…

If you are a property landlord you can get your tax free personal allowance increased by nearly 60% from £12,570 to over £20,000.

No national insurance to pay on the additional £7,500 income either.

Not sure where the loophole is on that one, but I'd love to speak to your accountant

 

[andyinluton]

Not sure where the loophole is on that one, but I'd love to speak to your accountant

So would HMRC....

 

[Amarillo]

Not sure where the loophole is on that one, but I'd love to speak to your accountant

Rent a room in your home

Renting a room in your home out - Rent a Room Scheme, types of tenancy or licence, rent, bills, tax and ending a letting

www.gov.uk

 

[andyinluton]

Rent a room in your home

Renting a room in your home out - Rent a Room Scheme, types of tenancy or licence, rent, bills, tax and ending a letting

www.gov.uk

Thats not being a property landlord, thats having a lodger, or 3 or 4, you don't even have to own the place.

 

[Amarillo]

Thats not being a property landlord, thats having a lodger, or 3 or 4, you don't even have to own the place.

What is the professional relationship between a householder and lodger?

Or put another way, what does a householder become if they take in a paying guest?

 

[andyinluton]

What is the professional relationship between a householder and lodger?

Or put another way, what does a householder become if they take in a paying guest?

According to HMRC in the document you linked to, A Resident Landlord.

A resident landlord is someone that lets out rooms within the dwelling they reside in & has shared occupation of some spaces - ie kitchen
A property Landlord is someone who lets out a property, it may be subdivided into HMA but its not where they reside.

 

[sidepod]

Ironic really how we're discussing the crap state of the economy/country, and yet, how to dodge paying your fair way at the same time.

 

[Amarillo]

According to HMRC in the document you linked to, A Resident Landlord.

A resident landlord is someone that lets out rooms within the dwelling they reside in & has shared occupation of some spaces - ie kitchen
A property Landlord is someone who lets out a property, it may be subdivided into HMA but its not where they reside.

As always I’m happy to be corrected on semantics:

If you are a *resident* landlord you can get your tax free personal allowance increased by nearly 60% from £12,570 to over £20,000.

 

[calibeach76]

Thanks @Amarillo .
Food for thought…
I tend to veer towards Barclays because we’re premier customers they offer more favourable rates than what they advertise to the open market.
It will be interesting to see what they offer us next week.
Our current rate is 1.8% which we had fixed for 5 years though them.

Like you premier customers but when we locked in our next 5 year deal premier weren't as good as natwest. 5 year fixed at 2.89% to kick in 31/1/23. Was higher than I hoped at the time but now 5 year deals if you can secure one are pushing 4.5%...

 

[andyinluton]

As always I’m happy to be corrected:

If you are a [<b>]resident[/<b>] landlord you can get your tax free personal allowance increased by nearly 60% from £12,570 to over £20,000.

You could just word it such that its clear & simple to understand.

If you want to share your house with one or more lodgers you don't pay tax on the first £7k you charge them.

 

[GrumpyGranddad]

Rent a room in your home

Renting a room in your home out - Rent a Room Scheme, types of tenancy or licence, rent, bills, tax and ending a letting

www.gov.uk

Worst Roommate Ever is new Netflix true crime about housemates who became murderers.​

 

[Amarillo]

Worst Roommate Ever is new Netflix true crime about housemates who became murderers.​

We rent out our box room for £55 per night using AirBnB. We only have to rent it for about 130 days a year to take full advantage of the tax loophole.

 

[willwander]

Worst Roommate Ever is new Netflix true crime about housemates who became murderers.​

Also on Netflix
How to build a sex room.

@Amarillo maybe you could charge more?

 

[sidepod]

I never realised what a lovely simple uncomplicated life I lead.

 

[andyinluton]

Daily Mash update - its the only press worth reading.

Dear 1922 Committee, I know! I wasn’t thinking I’d be back in touch with you so soon either. Sadly, it’s not good news.

I’m afraid it’s about the new prime minister. The one that only got elected at the beginning of this month. It seems that her critics were right when they said she was a f**king nutter.

I didn’t vote for her, I admit – Rishi gave me a spare Bentley – but I didn’t think she could possibly be as crackers as everyone was making out. After all she’s been in cabinet eight years and done jack-sing.

Little mousy woman, awkward public speaker, safe pair of hands, I thought. But it turns out my miscalculation was roughly on the level of Hindenburg appointing Hitler.

We’re not even through September and the pound’s being gangbanged on the international markets, affordable mortgages are more tightly controlled than crack cocaine, and Labour are so far ahead I can’t even see Angela Rayner’s VPL.

I know it will make the Conservatives look like a load of useless f**k-ups if we ditch another leader. I know we’ll lose the next election. Whatever. Compared to Truss, useless f**k-up losers looks pretty damn good.

The Tories are doomed, but we’ve been doomed before. We can make it back. But after two years of Truss there’ll be no Britain to come back to. We’ll be lucky to hold onto Wales.

Please consider this my letter of no confidence, though represented mathematically my confidence is a large negative number constantly adding digits.

Yours, a backbench MP albeit not for much longer.

 

[Amarillo]

Also on Netflix
How to build a sex room.

@Amarillo maybe you could charge more?

I doubt I’d have any customers.

 

[soulstyledevon]

Also on Netflix
How to build a sex room.

@Amarillo maybe you could charge more?

Might be the only sex room in London where the punter gets paid…

 

[sidepod]

Is Amarillo paying punters for a * (insert preferred sexual favour) then?

 

[subthree]

I doubt I’d have any customers.

Max Mosley?

 

[Lambeth Cali]

The 4.14% 2 yr fix we were chasing just became 5.96%.
That’s going to cost us £160 a month assuming it doesn’t go up by next Wednesday.

 

[subthree]

Kwasi Wikipedia entry, PhD in Economic History. He is certainly making history!

 

[soulstyledevon]

I see Truss has been approached about a new Hollywood role,

Kwasi, honey. I shrunk the pound…

 

[soulstyledevon]

The 4.14% 2 yr fix we were chasing just became 5.96%.
That’s going to cost us £160 a month assuming it doesn’t go up by next Wednesday.

I feel I’m about 3 weeks to late to be changing my mortgage. Hoping to lock in an offer on Friday, however my current fixed rate doesn’t end until Feb 23…