HolgateCorner
Well-known member
How does anybody know who you are?You pay capital gains tax
How does anybody know who you are?You pay capital gains tax
I can’t imagine our country is ahead of anybody in taxing money made out of the markets but if you say so.The main exchange shares the details of UK nationals who have significant amounts in them and HMRC follow up accordingly
Our country is way ahead of the game in looking to arrange capital gains taxing compared to the rest of the world
Because you buy and sell via a trading platform. All your transactions are recorded and if you withdraw you’ll likely do so into a bank accountHow does anybody know who you are?
They've taken a sensible stance that digital assets in whatever form are going to be with us in the future and are trying to take strides to ensure they get their share. Imminently sensible given the amounts that are possibly available.I can’t imagine our country is ahead of anybody in taxing money made out of the markets but if you say so.
Oh, it's better than spewing the cash, that's for sure, and for a lot of people it is just simpler, there's no denying that.There’s a good discipline in buying a house though for normal people, in that you have to pay the mortgage rather than frittering the money or you will lose it, it focuses people in on remaining in employment or progressing at work and you can improve a house to make it worth more. And it gives you somewhere to live.
Most people who buy flats as an investment get the renter to pay the mortgage.
So whichever way you do it, I think a house is a good investment.
Fair comment, I agree that renting houses out is harder work than many people realise, I once rented a spare house out myself and it was nothing but hassle, no such thing as a free lunch in that respect.Oh, it's better than spewing the cash, that's for sure, and for a lot of people it is just simpler, there's no denying that.
But for some, there are much better options in a flat housing market (or flat area), that's not likely to pick up and beat inflation. It could also drop a fair whack, with brexit or even in 10-30 years if those from the baby boom stop needing houses, and move into homes etc.
Investing 30k, compounding at 10% is 80k after 10 years, and it's 600k after 30 years. I doubt many will have that much capital in their house after those times, especially after you take out the stamp duty, fees, maintenance etc.
30k in the S&P 500 in 2010 would be worth about 120k now, that's without dividends (and most funds would hope to beat the S&P500).
Being a landlord isn't cut and dry, like a lot think it is either. It's good when markets are going up and houses increase in value but that is not a given forever.
I actually rented out a flat I owned, couldn't sell it, and needed a house, so had no choice. It lost about 20k in value in about 8 years (even more If you allow for inflation). All of that time it was mostly rented out, which covered the mortgage but didn't make anything, due to the decrease in value. What effectively happened is it cost the purchase, cost the sale, two sets of solicitors fees, a boiler, landlord insurance, maintenance. It's not a gain, or a big gain, not in this market and not compared to investing, it's not even close. Same with another house I own, I'm going to be better off selling it, than renting it out, as the return on investment in the markets is better than the return on the property in this area, even with someone else paying the mortgage.
I can also see some big problems coming with the interest-only landlords, or low deposit landlords, especially for our area.
Ok, I hope that is the case for everybody, but I suppose the tax evaders will use all kinds of offshore arrangements to avoid HMRC when they get their cash out.Because you buy and sell via a trading platform. All your transactions are recorded and if you withdraw you’ll likely do so into a bank account
I hope you are right otherwise Rishi’s spending bills will never get paid off.They've taken a sensible stance that digital assets in whatever form are going to be with us in the future and are trying to take strides to ensure they get their share. Imminently sensible given the amounts that are possibly available.
You have to remember that there are many many new millionaires from all of this. As I recall, HMRC launched this back in 2017 ish.
A £5000 investment in around 2015 would be worth millions now and I know of one Boro electrician who made millions from Crypto currency.
Unfortunately I'm not going to be one of them but I'm glad that we're trying to get some of that into the public purse
Spare cash WTF is that I have never heard of it.Mining is pointless unless you invest in major computer or mining gear which is very expensive and uses a lot of electricity.
There is so much more than bitcoin.
Join Binance which is by far the best exchange. At the moment you can transfer your spare cash from your bank account free.
JL - I am interested to know why you think "Crypto currency is the future of finance?
I think that is fundamentally wrong. One person benefitting from another in that way. The institution of private property is good, but it should be limited. Rentier economics creates massive inequality.There’s a good discipline in buying a house though for normal people, in that you have to pay the mortgage rather than frittering the money or you will lose it, it focuses people in on remaining in employment or progressing at work and you can improve a house to make it worth more. And it gives you somewhere to live.
Most people who buy flats as an investment get the renter to pay the mortgage.
So whichever way you do it, I think a house is a good investment.
Can’t argue with any of that.I think that is fundamentally wrong. One person benefitting from another in that way. The institution of private property is good, but it should be limited. Rentier economics creates massive inequality.
It's wrong that previously local authority homes are now owned by private landlords. The people in those houses often still receive benefits. Meaning the local authority is paying money for a house they use to own. It's madness.
I would expect that’s why gvt etc are getting on board - if you can’t beat them , join them is the attitude.Ok, I hope that is the case for everybody, but I suppose the tax evaders will use all kinds of offshore arrangements to avoid HMRC when they get their cash out.
I suppose long term the aim will be that you can actually buy and sell goods in the cryptocurrency and that’s when there will have to be some identity and regulation introduced, otherwise the world becomes tax free.
That sounds bizarre. Are you sure it wasn't spam?What are my views on digital currencies?
I would love to invest but I just don't know how to. When it comes to computers I'm not particularly techy savvy.
I opened an account with Coinbase the other day after reading that they're pretty secure. A day later I had an email from them saying my account had been hacked. Good job I hadn't got round to investing.
It's frustrating because I feel like it's passing me by when I want to jump on board with it.