NewbieVRS

Has anyone seen the film "Shooting Fish"? All this talk about loft insulation... Loftec - Insulation...without the aggravation! If you haven't seen it, this post will seem like gibberish (that's right, the native tongue of Gibraltar)

It's worth voting for the twins just for the pure fact that it obviously annoys Simon Cowell so much oh and plus, he said he'd leave the country if they won If they did win the £1m contract (or whatever it is), it would be just what the X-Factor deserves :P Buried somewhere on Money Saving Expert is the number to vote for free (as long as you don't mind listening to a 15 second advert first), so you can vote safe in the knowledge that: a) You're annoying Mr C It's not costing you a penny & none of your cash is going to him c) It means we will have something else on TV instead next year!

I take it you'll remove the parcel shelf first?

Extremely complex PM sent Not really. All very straightforward...

Not wanting to harp on about this....but... It really is worth getting your head around principal private residence relief (I'm happy to explain this via PM), since it can save you a whole bundle in Capital Gains Tax - the last person I helped with this saved £54,000 in CGT just by my writing a specialised letter to HMRC. Wouldn't want you to pay tax for nothing - unless you enjoy doing it that is! :P It's worth getting some good mortgage advice too from a specialist in that field Hope all goes well EDIT: Whoops, you've already done the mortgage advice bit!!!

Incorrect. For rental income, you are taxed on the PROFIT, which is rent received less allowable expenses. It's the same for self-employed income and also income from your job (although it's very difficult to claim expenses on employment income as they have to be classified as "wholly, exclusively & necessarily" in the performance of your work duties-so for most people, they're effectively taxed on their gross income). Trust me, I'm a doctor. Ahem, accountant

I think the point is that if you remortgage onto the rental property, the interest then becomes allowable as an expense against your rental income for income tax purposes. Otherwise, you end up with a small mortgage payment on your residence but then you make a profit on paper on the rental, thereby becoming liable to tax. If you do it the other way, you end up with an identical sized mortgage, but reduce or eliminate the income tax.

With the greatest respect to IFAs, I haven't yet come across one that knows anything on this subject. I can PM you on the last bit of my last post but if you're unsure, it's best to get some professional advice (although I'll do my best to be coherent!)

No you can't. Rental losses can only be offset against OTHER RENTAL PROFITS - NOT against other income, unless your rental is a furnished holiday let (there are very strict rules on properties qualifying for this). EDIT: To reduce the amount of capital gains tax you will pay on the sale of the house eventually, you should talk to an accountant about Principal Private Residence Relief and also Lettings Relief. I know this as I am one!!!!

Funnily enough, I was considering one a while back - it was just too small inside to be practical for me. Pity, as I really like cheese... :P

Nothing that a scalpel and a vacuum cleaner couldn't sort out!

Well, it was found (damaged ) but the insurance had already paid out & I'd bought another car. Back to the Octy fold with a new FL vRS next week ...plus better security on my house

We call those 500s the "Block of Cheese" cars where I live...

...and it's for this reason that some low-lifers decided to break into my house while my family and I were asleep upstairs, take my vRS' keys (plus other sundry items they found - wallets/purses/cash etc) and drive off in my Octy! They then outran the police in their vRS (I think!) as they did over three other houses in Gloucester...grrr However, the fools were caught after parking it up on another officer's beat They're due in court next month!

1995 - A white J reg Polo CL Coupe - with a red stripe!!! 1997 - A new silver R reg VW Polo L 1.0 - my first new car 2000 - A new silver W reg 1.4 TDI PD Polo SE - my first TDI 2002 - A new 02 reg blue Golf GT TDI 130 2004 - A 51 reg Ford KA which was a wedding present. I drove it like a go-kart until the steering broke! 2005 - A new 05 reg silver Golf GT TDI 2.0 140 2007 - A new blue 07 reg Fabia vRS SE - my first Skoda!!! 2007 - An 06 reg Octy vRS TFSI in race blue, which was nicked after 14 months of ownership :rotz: boooo!!!! 2009 - A 56 reg ice blue VW Passat SEL TDI 170 which was good on fuel but drove like a sofa :thumbdwn: 2009 - A new silver 59 reg Octy FL vRS - yay! And all this on part-time wages! It helps to be an accountant

I ran my 06 Octy vRS on Tesco 99 super unleaded, occasionally filling up with BP Ultimate which was 97 - but then decided to try Shell V-Power, which made a world of difference: the car ran considerably more smoothly and I also got a few extra mpg out of the tank. Plus, if you join the free V-Power Drivers' Club you get money off vouchers for fuel I now run my Fabia vRS on V-Power diesel as a result of my trial with the Octy, which incidentally got stolen with a full tank of V-Power in January (which probably explains why it out-ran the local coppers' vRS!!!). When the FL arrives in a week or two, I'll be back to V-Power for that one too

I think I just threw up a little bit in my mouth.

I remember that in a 56 Passat I owned, it showed the kph speed in the display as there wasn't one on the speedo (so you can observe the speed limit in Europe, I guess!). I presume this is the same? :confused:

I posted this on another thread about price rises this month, but it might have the info some of you need on VAT: Hi guys Although it appears that the date on the invoice is the important thing, its only half the story. The important thing is the "tax point" which with many things ends up being the same as the invoice date, but in this case will probably be for most people the time when they are supplied with the goods. If the supply is after 1/1/10 then the vat rate is 17.5% which means that the vat included in the price will rise by 2.5% (although the increase is based on the net price, so you won't be paying 2.5% more on the total, more like 2.13%) Most firms will have in their terms of sale document a clause which says "it's not our fault if vat rates change" so they're not obliged to absorb the increase for the customer. Some probably will absorb it for good customer relations etc but it will vary per dealer, since depending on how much in the way of orders they have that fall into this scenario, they may/may not be able to afford to do this. My local dealer has said they'll honour their pre-vat increase prices Not wanting to sound smug, but my fl will be here in 3 weeks so I'm fine! Hope this helps oh and ps if the dealer says "no it's ok, as long as the invoice is pre-31/12 then it's ok" well that's fine, as it's their problem when they get a nice visit from mr hmrc officer __________________

I'm 33 Got my first Skoda in April 07 (Fabia vRS SE) from new, then in September 07 got my Octy vRS TFSI (18m old) and now am getting the FL Octy vRS TFSI this month to replace the old Octy as it was nicked in January :( I had 5 VWs from new before before I discovered Skodas (and a whole load of new change in my pocket!!!) I'm also in denial about having 2 kids and another on the way as I will NOT buy an MPV-bus-taxi-mobile :rotz:

Hi guys Although it appears that the date on the invoice is the important thing, its only half the story. The important thing is the "tax point" which with many things ends up being the same as the invoice date, but in this case will probably be for most people the time when they are supplied with the goods. If the supply is after 1/1/10 then the vat rate is 17.5% which means that the vat included in the price will rise by 2.5% (although the increase is based on the net price, so you won't be paying 2.5% more on the total, more like 2.13%) Most firms will have in their terms of sale document a clause which says "it's not our fault if vat rates change" so they're not obliged to absorb the increase for the customer. Some probably will absorb it for good customer relations etc but it will vary per dealer, since depending on how much in the way of orders they have that fall into this scenario, they may/may not be able to afford to do this. My local dealer has said they'll honour their pre-vat increase prices Not wanting to sound smug, but my fl will be here in 3 weeks so I'm fine! Hope this helps oh and ps if the dealer says "no it's ok, as long as the invoice is pre-31/12 then it's ok" well that's fine, as it's their problem when they get a nice visit from mr hmrc officer

Although I'm a Man Utd fan... That is brilliant

This thread is hilarious - I come back to it every half an hour! Or should I say: Ths thred is alarius - i cm bk 2 it evry hlf hr

Was the bracken one that awful beige?

Mmmmm....maxi.....