Debts

[DimPrawn]

Re: bank accounts

Have you tried Cater Alan Private Bank?

[AtW]

banks

Its pretty fecking unreasonable to deny basic account that can't be overdrawn. Perhaps their logic is that despite lack of risk of losing money, they won't be making money money of you since banks want people to get in debt and them milk them?

[rootsnall]

Re: debts

You have to sell the property to put it into a SIPP so I think you'll cop for capital gains if its been rented only. If you've made a decent capital gain I reckon its worth moving in and making it your main residence while you sell it ie. 100K gain, save 40K in tax.

[DimPrawn]

Re: debts

More of a problem if you have say 3 properties that you want to sell at the same time. Just move abroad, sell and reap the tax free benefits....You might find however you never want to return....you have been warned.....

[OwlHoot]

Re: bank accounts

> 3 CCJs, 2 satisfied, and about 10 defaults, 8 satisfied.

Dazza, putting it bluntly, I think your problem is that 3 - 2 and 10 - 8 are both positive.

I make no secret of the fact that I'm a prole with money (like most of the population these days it seems) and I have a couple of CCJs on account of tax debts that crept up to spectacular levels a couple of years ago - nearly 100K. But after selling one of my properties I satified them all, and I haven't had any problem with credit cards or business bank accounts.

Caesar Augustus once quipped about some debtor that he'd pay a fortune for the guy's pillow, because anyone who could sleep soundly with that much debt hanging over him must have a magic pillow. Maybe I should have put mine up for sale on Ebay.

[DimPrawn]

Re: bank accounts

Another pillow biter....:rolleyes

[allfinished]

Zero debt of any sort...., just assets

keeping my powder dry so I can buy vast swathes of labour voting housing when the economic ballon goes up, then I get to laugh at the scum and make money out of their misfortune/ignorance/stupidity.

Seldom will wealth/revenge/punishment combine in such a poetic way.

[Lucifer Box]

As the old saying goes, "if you owe the bank a thousand pounds you've got a problem, if you owe the bank a million pounds they've got a problem." So is the moral of the story fill your boots and damn the consequences?

[ASB]

Non resident CGT.

DP,

The strategy is basically sound but ISTR that there are some changes such as if you become resident again in the next 7 years you get stiffed for the tax anyway.

Also if you happen to own the properties via a company now would be a very good time to read up on the exit charge for companies.