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What I have learned today.

tricky
16 May 2023
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    JRs_Cigarette
    Squad 2188 posts
    23 Oct 2024, 6:54 a.m. 23 Oct 2024, 6:54 a.m.
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    @noodle has written:

    Land Value Tax, which would be much better for everyone except you

    Depends what level the LVT would be set at. The new council tax will be c5% of the flat's market value.

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    Jake
    Squad 1818 posts
    23 Oct 2024, 7:23 a.m. 23 Oct 2024, 7:23 a.m.
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    At the risk of making myself unpopular, I suggest you put yourself down as living in your current place, your wife down as living in Kings Lynn, and claim single person discount on both.

    RC likes this.

    favorite 1

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    Loafer
    Squad 528 posts
    23 Oct 2024, 7:30 a.m. 23 Oct 2024, 7:30 a.m.
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    That's the spirit

    Resident_Alien, Ingo and Sean like this.

    favorite 3

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    Sean
    Squad 2031 posts
    23 Oct 2024, 7:54 a.m. 23 Oct 2024, 7:54 a.m.
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    @Jake has written:

    At the risk of making myself unpopular, I suggest you put yourself down as living in your current place, your wife down as living in Kings Lynn, and claim single person discount on both.

    Does premeditated and cynical defrauding of local council authorities carry a mandatory custodial tariff these days?

    And there's a thought. Have we ever had an active Talkbacker in chokey before?

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    JRs_Cigarette
    Squad 2188 posts
    23 Oct 2024, 7:54 a.m. 23 Oct 2024, 7:54 a.m.
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    I'm not looking to avoid paying it, just think it'd be better if they were honest about their reasons.

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    JimShady
    Squad 3848 posts
    23 Oct 2024, 8:21 a.m. 23 Oct 2024, 8:21 a.m.
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    I'd be tempted to sell it, invest the money, and have Mrs JR stay in a hotel whenever she needs to go visit. Probably work out cheaper?

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    tricky
    Board 7321 posts
    23 Oct 2024, 8:52 a.m. 23 Oct 2024, 8:52 a.m.
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    Good idea. What's a better investment than a flat in Kings Lynn with the repeating dividend of saved hotel costs?

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    noodle
    Squad 999 posts
    23 Oct 2024, 8:58 a.m. 23 Oct 2024, 8:58 a.m.
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    @JRs_Cigarette has written:
    @noodle has written:

    Land Value Tax, which would be much better for everyone except you

    Depends what level the LVT would be set at. The new council tax will be c5% of the flat's market value.

    If your maths is right, that sounds like lot. I know nothing at all about the market for flats in Kings Lynn, but generally 5% is nearing a respectable rental yield (aka it’s what you’d get renting the place out) but maybe that’s the point. They really don’t want empty properties.

    LVT wouldn’t be that high.

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    JRs_Cigarette
    Squad 2188 posts
    23 Oct 2024, 9:35 a.m. 23 Oct 2024, 9:35 a.m.
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    It's a small one bed flat, band A, lowest council tax, currently 1800 council tax will double to 3600. Would say flat is worth about £80k. Might be bit more but even at 100k that's 3.6%.

    In what I think is a good example of why the entire system is fucked, my Band F (not that big) house in London costs 1700 per year in council tax. Probably wotth c900k max. So about 0.2%!

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    JRs_Cigarette
    Squad 2188 posts
    23 Oct 2024, 9:38 a.m. 23 Oct 2024, 9:38 a.m.
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    @JimShady has written:

    I'd be tempted to sell it, invest the money, and have Mrs JR stay in a hotel whenever she needs to go visit. Probably work out cheaper?

    It would. But my wife is attached to it and points out I spend a load on going to sporting events that she has no interest in, the flat is her thing to spend on.

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    JimShady
    Squad 3848 posts
    23 Oct 2024, 9:43 a.m. 23 Oct 2024, 9:43 a.m.
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    @JRs_Cigarette has written:
    @JimShady has written:

    I'd be tempted to sell it, invest the money, and have Mrs JR stay in a hotel whenever she needs to go visit. Probably work out cheaper?

    It would. But my wife is attached to it and points out I spend a load on going to sporting events that she has no interest in, the flat is her thing to spend on.

    Haha. Good luck with that!

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    Psychobel
    Squad 902 posts
    23 Oct 2024, 10:24 a.m. 23 Oct 2024, 10:24 a.m.
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    @JRs_Cigarette has written:

    It's a small one bed flat, band A, lowest council tax, currently 1800 council tax will double to 3600. Would say flat is worth about £80k. Might be bit more but even at 100k that's 3.6%.

    In what I think is a good example of why the entire system is fucked, my Band F (not that big) house in London costs 1700 per year in council tax. Probably wtth c900k max. So about 0.2%!

    Also risking unpopularity, are you not sticking it on AirBnB?

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    JRs_Cigarette
    Squad 2188 posts
    23 Oct 2024, 10:28 a.m. 23 Oct 2024, 10:28 a.m.
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    Have thought about it but it seems a lot of hassle, but this change might tip us over to giving it a try.

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    Seven
    Squad 1459 posts
    23 Oct 2024, 10:56 a.m. 23 Oct 2024, 10:56 a.m.
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    @Sean has written:
    @Jake has written:

    At the risk of making myself unpopular, I suggest you put yourself down as living in your current place, your wife down as living in Kings Lynn, and claim single person discount on both.

    Does premeditated and cynical defrauding of local council authorities carry a mandatory custodial tariff these days?

    And there's a thought. Have we ever had an active Talkbacker in chokey before?

    I think EBP is probably the closest.

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    Psychobel
    Squad 902 posts
    23 Oct 2024, 1:02 p.m. 23 Oct 2024, 1:02 p.m.
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    I quick peruse of AirBnB suggests you would get between £50 and £90 per night for mid week nights, more at weekends.

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    RC
    Squad 1510 posts
    23 Oct 2024, 1:28 p.m. 23 Oct 2024, 1:28 p.m.
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    @Psychobel has written:

    I quick peruse of AirBnB suggests you would get between £50 and £90 per night for mid week nights, more at weekends.

    Be raking it in on TB axis attendees alone.

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