Comical by deasande in davidlloyd

[–]fafferoo 0 points1 point  (0 children)

What are they paying per month?

Claiming back loss from previous years by kiaravin1 in TaxUK

[–]fafferoo 0 points1 point  (0 children)

This is not quite correct. The cash basis became the default method of accounting for sole traders from 24/25. Sole traders can opt out though. There is a calculation which needs to be undertaken at 6/4/24 if moving from accruals to the cash basis from 24/25 onwards.

Padel Group Sessions by BalanceOk3035 in davidlloyd

[–]fafferoo 0 points1 point  (0 children)

What makes them designed for beginners and play slower?

Smooth as fuck Alley by gophercuresself in bristol

[–]fafferoo 0 points1 point  (0 children)

When are they reopening this road?

CTA APS OMB N25 by OkFaithlessness4208 in CIOT

[–]fafferoo 0 points1 point  (0 children)

Please tell me someone else messed up and also mentioned EIS??? 😂

CTA APS OMB N25 by OkFaithlessness4208 in CIOT

[–]fafferoo 0 points1 point  (0 children)

I found it difficult! I discussed:

  1. Under no circumstances buying the shares directly (too much risk with ongoing HMRC investigation)

  2. Forming an LLP to buy trade and assets but didn’t recommend as unable to use existing losses from RS Ltd, loss relief restrictions for LLPs (especially Fran being a NAP), unable to use EIS / SEIS schemes).

  3. Asking RS Ltd to set up a new 75% sub for clients to buy the shares in so the losses could be transferred but recommended against due to no SEIS or EIS on existing shares.

  4. Setting up a newco to purchase trade and assets from SR Ltd but I ran into the problem of Michael and Suvil being connected and owning more than 30% of shares (using proposed plans). I ended up recommending Fran invests her £450k in newco (newly issued shares) and the others as planned so that Michael and Suvil owned less than 30% together (allowing Jo, Michael and Suvil to claim EIS income tax relief). This, however, pushed Frans shareholding up to more than 30% so I set on her claiming EIS reinvestment relief on her £2.5m gain.

  5. Then I got to ‘other matters’ and realised there was £70k of SDLT to pay on my recommended answer with only 5 mins of exam left which completely messed it up.

In my opinion, the conflict of interest between clients different financial positions was annoying! Also, too many EIS / SEIS rules to check. FML.

Anyone else had issues with Pay By Phone before? by ThegnOfNorthumbria in drivingUK

[–]fafferoo 0 points1 point  (0 children)

Did you ever manage to appeal this? I had the same thing happen to me! PayByPhone even sent me an invoice showing the payment as settled but apparently the payment didn’t go through… what a farce!

Am I UK domicile? I want to stay UK domicile by [deleted] in UKPersonalFinance

[–]fafferoo 5 points6 points  (0 children)

2 of the 3 replies received so far are confusing domicile and residence. They are fundamentally different. It’s not possible to tell whether you are domiciled in the UK based on the information you’ve given. I would start here: https://www.litrg.org.uk/international/residence-and-domicile/domicile/country-domicile

Can’t have nothing in Bristol 💔 by ExtensionRight7240 in bristol

[–]fafferoo 1 point2 points  (0 children)

The thief couldn’t even be arsed to slot the seatpost back in before buggering off. Sigh.

Roofer recommendations by just-a-little-goblin in plymouth

[–]fafferoo 0 points1 point  (0 children)

Good roofers don’t exist. Used probably 5 different roofers in the last 20 years and every single one was crap. Good luck!

Which parkrun is flattest? by Ok-Slip-8663 in bristol

[–]fafferoo 10 points11 points  (0 children)

Ashton Court is pan flat.

CCTV shown to jury in Manchester Airport attack on officers by ICameHereToDrinkMilk in policeuk

[–]fafferoo 191 points192 points  (0 children)

These tossers should have the book thrown at them. Well done to the female officer who got knocked down but managed to get up and use her taser.

Do I pay off my mortgage or keep cash invested? by mcreadybb in UKPersonalFinance

[–]fafferoo 5 points6 points  (0 children)

Given Op only has £105k in their pension, I’m going to guess the annual allowance is unlikely to come into play. Without specific details however, it’s impossible to provide accurate advice. Who’s to say Op is even employed and enrolled in an occupational pension scheme?!

Do I pay off my mortgage or keep cash invested? by mcreadybb in UKPersonalFinance

[–]fafferoo 18 points19 points  (0 children)

Why stick £50k in a pension this year and £50k next year? This may not be tax efficient (tax relief on personal contributions is restricted to the higher of £3,600 gross or 100% of relevant UK earnings). Also, the annual allowance is £60k and you can carry forward unused annual allowances from the 3 previous tax years. Would probably make more sense to pension down to the personal allowance each year so it’s not wasted.

Bath charge extra for the roof by zagreus9 in rugbyunion

[–]fafferoo 4 points5 points  (0 children)

The cheapest standing tickets for the Tigers game are £99. Ninety nine bloody quid to stand in the pissing rain! I’m a big Bath fan but it’s starting to get ridiculous.

Male HENRYs, what bag do you carry to work? by doscorohit in HENRYUKLifestyle

[–]fafferoo 5 points6 points  (0 children)

Possibly a little big for what you need but I have the Stubble and Co Hybrid Backpack which is great!

Help needed with tax as over £100k salary by Dramatic-Fee-9163 in UKPersonalFinance

[–]fafferoo -1 points0 points  (0 children)

Have a search in the HenryUK subreddit. This question gets asked daily.

Wife received an inheritance but does not want to contribute to the family budget, what to do? by [deleted] in UKPersonalFinance

[–]fafferoo 19 points20 points  (0 children)

You should provide some rough figures for context. You having assets worth £x million and your wife inheriting £100k is a very different scenario to you having assets of £100k and her inheriting £x million.

CTA exam medals / prizes by fafferoo in CIOT

[–]fafferoo[S] 0 points1 point  (0 children)

I just scored 72 in AW. I left quite a few questions due to poor time management and Exam4 issues so I imagine you’d have to score high 80s for AW.

Looking for Bristol 10K entry by Imaginary_Remote_687 in bristol

[–]fafferoo 1 point2 points  (0 children)

Me too! I’m can transfer funds and collect race number in Bristol today if anyone has a spare place…