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By *atEvolution OP   Couple
over a year ago

atlantisEVOLUTION. Stoke FREE ENTRANCE ALL WEEKEND

https://news.sky.com/story/clampdown-on-tax-loophole-for-thousands-of-second-homes-registered-as-holiday-lets-12254630

Revenue for Treasury I guess and might make us second homers work harder lol.

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By *wisted999Man
over a year ago

North Bucks


"https://news.sky.com/story/clampdown-on-tax-loophole-for-thousands-of-second-homes-registered-as-holiday-lets-12254630

Revenue for Treasury I guess and might make us second homers work harder lol."

Just put a couple of rentals on the market as I was looking into a holiday let. So bad.

I inherited my Mums house back home so technically my second home is abroad. So good luck getting me pay tax on that.

I would tend to agree that loopholes need closing though.

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By *atEvolution OP   Couple
over a year ago

atlantisEVOLUTION. Stoke FREE ENTRANCE ALL WEEKEND


"

Just put a couple of rentals on the market as I was looking into a holiday let. So bad.

"

I think the general idea is to ensure that rentals are actually what they say they are 'rentals'.

Start keeping solid records of the lets you do and then submit it to your accountant for deductibles. There will be lee way this year at least because of covid.

Records record records will save the bacon.

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By *ostafunMan
over a year ago

near ipswich

Now there shouldn't be any opposition from the usual suspects on this one or will there be?

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By *atEvolution OP   Couple
over a year ago

atlantisEVOLUTION. Stoke FREE ENTRANCE ALL WEEKEND


"Now there shouldn't be any opposition from the usual suspects on this one or will there be? "

Bound to be.

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By *oxychick35Couple
over a year ago

thornaby

Atleast it’s just holiday let’s then

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By *ostafunMan
over a year ago

near ipswich


"Atleast it’s just holiday let’s then "
Thats true in spain you pay tax when you buy and when you sell thats why people dont tend to move much.

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By *ackal1Couple
over a year ago

Manchester

This is interesting reading from Sir Christopher Kelly on MPs expenses including second homes. These recommendations were made in 2009 . Still no action on most of it.

Wonder why??

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/336903/MP_expenses_main_report.pdf

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By *atEvolution OP   Couple
over a year ago

atlantisEVOLUTION. Stoke FREE ENTRANCE ALL WEEKEND

In Greece, have they closed the loophole of 'unfinished roof' means no tax?

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By *ackal1Couple
over a year ago

Manchester


"In Greece, have they closed the loophole of 'unfinished roof' means no tax?"

On my first trip to Greece 30+ years ago I was amazed by the amount of unfinished houses.

Only realising they built as they could afford was the answer the question.

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By *atEvolution OP   Couple
over a year ago

atlantisEVOLUTION. Stoke FREE ENTRANCE ALL WEEKEND

It was to avoid property tax as I recall.

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By *ostafunMan
over a year ago

near ipswich


"It was to avoid property tax as I recall."
The same in Spain not sure if they have closed that though.

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By *ackal1Couple
over a year ago

Manchester

An unfinished home does get lower tax rate but the finance is the main reason for the unfinished houses. . They build houses as they can afford by flour. Because they usually build with concrete their leave the re-bar showing ready to add the next floor.

Having a country full of unfinished houses isn’t mainly due to tax avoidance it’s due to lack of funds.

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By *ostafunMan
over a year ago

near ipswich


"An unfinished home does get lower tax rate but the finance is the main reason for the unfinished houses. . They build houses as they can afford by flour. Because they usually build with concrete their leave the re-bar showing ready to add the next floor.

Having a country full of unfinished houses isn’t mainly due to tax avoidance it’s due to lack of funds. "
You know this is the reason how?

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By *oo hotCouple
over a year ago

North West


"Now there shouldn't be any opposition from the usual suspects on this one or will there be? "

Who would possibly oppose the closing of a tax loophole? Seriously??

The @usual suspects@ as you call them would likely be the first ones supporting this move.

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By *ackal1Couple
over a year ago

Manchester


"An unfinished home does get lower tax rate but the finance is the main reason for the unfinished houses. . They build houses as they can afford by flour. Because they usually build with concrete their leave the re-bar showing ready to add the next floor.

Having a country full of unfinished houses isn’t mainly due to tax avoidance it’s due to lack of funds. You know this is the reason how?"

Spending a bit of time on business in Aspropygos ,Thessaloniki and have a Greek friend Regas for 30 years who told me about the half built houses.

I don’t know the tax law so not claiming knowledge on that or the roof thing just the half built houses.

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By *ostafunMan
over a year ago

near ipswich


"An unfinished home does get lower tax rate but the finance is the main reason for the unfinished houses. . They build houses as they can afford by flour. Because they usually build with concrete their leave the re-bar showing ready to add the next floor.

Having a country full of unfinished houses isn’t mainly due to tax avoidance it’s due to lack of funds. You know this is the reason how?

Spending a bit of time on business in Aspropygos ,Thessaloniki and have a Greek friend Regas for 30 years who told me about the half built houses.

I don’t know the tax law so not claiming knowledge on that or the roof thing just the half built houses. "
I have no knowledge of Greece but in spain they do the same leave rebar sticking up but this is a lot of the time to build posts for the roof terrace which they never used to finish to avoid the ibi .Ive not lived there for a couple of years now so that tax loophole may well be closed now.

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By *ackal1Couple
over a year ago

Manchester


"An unfinished home does get lower tax rate but the finance is the main reason for the unfinished houses. . They build houses as they can afford by flour. Because they usually build with concrete their leave the re-bar showing ready to add the next floor.

Having a country full of unfinished houses isn’t mainly due to tax avoidance it’s due to lack of funds. You know this is the reason how?

Spending a bit of time on business in Aspropygos ,Thessaloniki and have a Greek friend Regas for 30 years who told me about the half built houses.

I don’t know the tax law so not claiming knowledge on that or the roof thing just the half built houses. I have no knowledge of Greece but in spain they do the same leave rebar sticking up but this is a lot of the time to build posts for the roof terrace which they never used to finish to avoid the ibi .Ive not lived there for a couple of years now so that tax loophole may well be closed now."

Yes I know about the Spanish stuff. It’s all a bit scruffy though. I think I remember there used to be a law in the U.K. about it for commercial buildings but it was withdrawn as being ridiculous as without a roof the building degrade quickly.

Not sure of facts here though.

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