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On a selfish point of view, I am pleased to say that Yorkshire prices fell last month (after I had exchanged)!
The capital realised from my house sale will be invested at about 6%. I am therefore watching the market and anything over a 6% rise in house prices would mean I could lose out heavily if/when I return to the property ladder. Note however, I would be a cash/first time buyer and therefore a discount would presumably ensue in the transaction.
It must be noted that the house price info is really an average - there are locations in Yorkshire that have gone up 25% in the last year, whilst others have fallen.
Rapide561
______________________________________________________________ Never been here before
I´m intrigued, I´m unsure
I´m searching for more
I´ve got something that´s all mine
I´ve got something that´s all mine
Take me somewhere I can breathe
I´ve got so much to see
This is where I want to be
In a place I can call mine
In a place I can call mine
The following members of MHF thanked Rapide561 for this posting
The capital realised from my house sale will be invested at about 6%.
Is the 6% interest gross or net of tax...do you have some exemption from income tax on this investment? if not I do hope you have allowed for any income tax that may be due on that 6%. I don't wish to appear to be negative about it as I am sure you will enjoy fulltiming in Italy..but there are many pitfalls to investing....and tax is only one of them
Mike
P.S. I do like the picture of Robin Hoods Bay on your website I wonder where you got that from?
I was surprised that no one else commented on this thread... there always seems to be quite a few intending full timers worried about whether to sell or rent ...where were they when this came up....
maybe another case of ..if it aint on the front page no one sees it
Yes the 6.0% - I have since found a better rate and yes that is the gorss rate. I would fill out an R85 in the new tax year starting April 2007.
To add spice to the subject of fulltiming, I can only imagine that fulltimers are more likely to face a GAS ATTACK than a non full timer.
Stone the crows....
Rapide561
______________________________________________________________ Never been here before
I´m intrigued, I´m unsure
I´m searching for more
I´ve got something that´s all mine
I´ve got something that´s all mine
Take me somewhere I can breathe
I´ve got so much to see
This is where I want to be
In a place I can call mine
In a place I can call mine
The following members of MHF thanked Rapide561 for this posting
Yes the 6.0% - I have since found a better rate and yes that is the gorss rate. I would fill out an R85 in the new tax year starting April 2007.
Hi Rapide
It would not be fair to ask just how you will afford your fulltiming but I am a bit concerned. .... I am NO expert but an R85 will only allow you to recieve any interest tax free up to the limit of your personal allowance ...about £90 week income, if you do get income from a job in Italy will this be taxed in Italy? .
By the way an R85 declaration only applies while you are a UK resident. Once you move away from the UK different rules apply and if you do not return for more than 91 days in any tax year you do not come under this scheme. The form you will need to complete is a R 105 ...get one
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and I do not know what the implications of this are.
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I wonder where you got that from?
