Reply to: Mortgage Advice

[zathras]

Income £1 outgoings £1.01p nashing of teeth and much sadness

Income £1 outgoings 99pence eternal happiness.

What is your estimated income for the year?

What is the lowest it is likely to be


If you can make the payments then do so. Personally I would n't but then for payments around £640 p/m I've got a two bedroom apartment in the smoke with a parking space and loft area.

[Andyw]

[Ardesco]

Not paying people money that you owe them and taking the money out of the company/blowing it on something else would be classified as fraud.

Hence my earlier statement you are a twat if you are running your company fraudulantly.

[Andyw]

If you mean you are liable if you commit fraud, then yes, but again if you commit fraud you are a twat.

If your company goes tits up depite your best efforts to keep it running you are not liable for anything

Not fraud but failing to find out what your liabilities are to the IR

Thats the latest NL law !

[Ardesco]

If you mean you are liable if you commit fraud, then yes, but again if you commit fraud you are a twat.

If your company goes tits up depite your best efforts to keep it running you are not liable for anything

[Andyw]

Yes if YOU owe money to the IR, not if your LTD company owes money to the IR. If you don't pay the relevant tax on the money you take out of your company you're a twat and deserve everything you get.

Wrong!, under the compliance laws, if you, as director, have deemed to not to ensure the company hasnt made the correct contributions YOU will be liable. If you dont beleive me check it out.

[Ardesco]

Yes if YOU owe money to the IR, not if your LTD company owes money to the IR. If you don't pay the relevant tax on the money you take out of your company you're a twat and deserve everything you get.

[Andyw]

£1950 pretty reasonable actuallly compared to a £250,000 place that would cost you £7500.....



LTD company means they can't touch his assets unless he is renting his house out to his LTD Co, in which case they could make a case that the LTD company owns a proportion of the house and take money to the value of the proportion of the property the LTD Co owns.

Thats not strictly true...if you owe money to the IR they can come after you personally even though you trade through a ltd co.

[Ardesco]

and do you know how much the stamp duty is on 195k ?

£1950 pretty reasonable actuallly compared to a £250,000 place that would cost you £7500.....

I know renting is 'dead' money but if your new business plans go tits up you may not want equity and then get creditors taking your newly acquired residence !

LTD company means they can't touch his assets unless he is renting his house out to his LTD Co, in which case they could make a case that the LTD company owns a proportion of the house and take money to the value of the proportion of the property the LTD Co owns.

[milanbenes]

it was on Not the Nine O'clock News

Milan.

[Andyw]

Come home to a real fire,

Buy a cottage in Wales

when in the 1980's was that first said ?

[DaveB]

Come home to a real fire,

Buy a cottage in Wales

[Andyw]

nah just bored.

well this place is set in the quintessintial british countryside.

I actually like this guy...he's honest.

Bored in IT !! me too !!!!!!!

[Francko]

nah just bored.

well this place is set in the quintessintial british countryside.

Wales?

[el duder]

El Duder's gone quiet....must be changing the backup tapes !

nah just bored.

well this place is set in the quintessintial british countryside.