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ColinF

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Posts posted by ColinF

  5. Capital gains / house sale question

    in Off Topic

    Posted

    Don't forget that the annual exempt amount for CGT is just under £11k, if you're married, your other half will also have an annual exemption that you should be able to use. The gain will also be reduced by the cost of most improvements you have made to the property while you have owned it, and the costs of selling the property

  6. Capital gains / house sale question

    in Off Topic

    Posted

    I wondered whether any body could enlighten me prior to seeking independent financial advice.

     

    I need to sell my property which has been rented out for more than three years. My questions are as follows:

     

     

    1) Am I right in thinking that although I only own one gaff I will cop for capital gains as its not been my main residence for over three years?

     

    2) How long would I have to reside in the property to avoid capital gains tax if it's due?

     

     

    Many thanks

    If the property has been rented for the whole time you have owned it, you will have to pay CGT on all of the gain.

     

    If you started living in the property and it was your "Principal Private Residence", when it's eventually sold the gain will be time apportioned between the time it was rented out and the time that you lived in it. So if you had owned it for 10 years, and lived in it for 5 years, only 50% of the gain would be chargeable to CGT, the other half of the gain would be exempt from tax due to PPR relief. It doesn't matter how long you live in the property, the gain will never be tax free, but the taxable proportion will be reduced for every extra year that you live there.

  7. Shoot Improvement Work

    in Gamekeeping and Shoot Management

    Posted

    I would check with ur supplier wot they say about anmals eating it, i was told it could be a problem with horses, so only sow well back from the fene so can't lean over to get it.

    I asked one of the technical advisers at Kings a couple of years ago, who confirmed it can cause staggers, especially in the spring apparently. As the fences on the farm are generally poor, I didn't want to risk a conversation with the farmer about dead or dying stock....

  8. Shoot Improvement Work

    in Gamekeeping and Shoot Management

    Posted

    Will mention Reed Canary Grass to the others; we had looked at it but decided against it, but if it's as good as it is claimed above, then it must be worth a go.

    I looked in to planting some Reed Canary grass, but apparently it can cause staggers in livestock if they graze on it. Obviously, you don't want cattle & sheep grazing on your cover crops, but I couldn't guarantee that it would never happen. As the farm we shoot over has livestock, it was a non starter for us.

  16. Eley's Latest Offering

    in Bullets, Cartridges and Reloading

    Posted

    I read all comments and I am deeply sadden by all the negative comments Eley is getting. Call it Rebel, call it Daisy, make it pink, make it mauve.... All they are trying to do is to bring new things to this already tired market. Listen to yourselves, you sound sad, old and above all...... Un supportive of this sport.

    Does X comp range from Hull, suggests that whoever buys it, spends hours on end watching X rated movies?

    I hope they do well, and bring more and more new things to this market, even if it annoys all royal Highnesses here!

    ..... And I don't even shoot their cartridges!

     

    What's new about a 21g or 24g cartridge with a plastic wad?

     

    Just to cheer you up, here is the marketing blurb from Eley's own website:

     

    Specifically designed for younger shooters

    Eley Hawk have been at the forefront of cartridge manufacturing and development for over 180 years, and are pleased to announce the launch of the new “Eley Rebel” range of cartridges.

     

    The “Eley Rebel” cartridges have been developed to help you break from the norm and help you turn shooting upside down.

     

    The new “Eley Rebel” cartridges have been specifically designed to help you mark out your own personality and mark a fundamental departure in cartridge design.

     

    Eley Hawk have ensured that the evolution continues both internally and externally by providing the perfect combination of Speed, Power and Performance, with smooth low recoil characteristics in an exciting new colour case that’s as individual as you the shooter.

     

    “Eley Rebel” has been designed to be a seriously hard hitting, powerful cartridge that refuses to conform to the usual characteristics of lighter weight cartridges.

    The new “Eley Rebel” range of cartridges helping you break the mould … Become a Rebel!

    Eley Rebel Advantages
    • Specifically designed for younger shooters
    • Hard Hitting
    • Smooth delivery
    • Lower recoil
    • Distinctive Look

  18. New shoot

    in Gamekeeping and Shoot Management

    Posted · Edited by ColinF

    Depends on the topography, what cover and other features you have, and how big the shoot you are trying to establish will be.

     

    I used to be involved with a really good shoot, which was on less than 200 acres, but I have also seen 1,000 acre blocks of land that were no good for game shooting at all.

  19. Setting up a company (costs)

    in Off Topic

    Posted

    Based on what you have said, you are on the right lines for a 70/30 split company. Your answers should be:

     

    Class of Share: Ordinary £1.00

    Number of shares: 100

    Amount paid up on each share: £1.00

    Amount unpaid on each share: Nil

    Aggregate nominal value: £100

     

    You don't need to list the spit of shares in the prescribed particulars part, you just need to list the particulars for each share class, in your case there is only one class, Ordinary £1.00. Details of acceptable wording for the prescribed particulars are in the link below:

     

    http://www.companieshouse.gov.uk/infoAndGuide/faq/prescribedParticulars.shtml

     

    A couple of other points to consider. You don't have to have your home address shown on the public record if you don't want to, you can use a service address, which is usually the registered office of the company.

     

    By only having one share class, any time you vote a dividend, your wife will effectively receive 30% of the total dividend. You won't be able to make a distribution just to yourself, unless you take it out as a salary or bonus under PAYE.

     

    Make sure you get the company registered for VAT, PAYE and Corporation Tax with HMRC.

  21. Setting up a company (costs)

    in Off Topic

    Posted

    Have a look at LLP's. Much cheaper and fewer requirements. There's agencies out there who will sort the partnership train as well.

     

    LLP's and Ltd Co's have broadly similar set up costs and annual reporting requirements, but they are completely different in the way they are taxed. What is a partnership train?

  22. which auto should i get ?

    in Guns & Equipment

    Posted

    If you go down the 2nd hand Beretta, Browning or Remington route you're buying something that is very well used and may well not have a full set of chokes.

     

    If it was worn out, you wouldn't buy it. There are plenty around that have been well looked after and not been used too much. All of these guns are tried and tested, and built to last. Whether or not it has a full set of chokes is irrelevant.

  25. non toxic

    in Bullets, Cartridges and Reloading

    Posted

    I would stick to the Bismuth, they do the job much better than standard steel cartridges. I guess it depends on how many non toxic cartridges you get through in a season, and whether the extra cost is a major factor.

     

    The high performance steel cartridges seem to be fairly good, but that would mean buying a new gun, which may be worthwhile if you shoot a lot of duck

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