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Pattinson August 31st, 2005 Details now on line e.mail richard.francis@pattinson.co.uk McHugh & Co. Miller Metcalf Halls
FULL LIST OF HUNDREDS OF AUCTIONS ACROSS THE UK AVAILABLE AT THE HOT PROPERTY SITE WE ADVISE YOU TO CONFIRM ABOVE DETAILS WITH AUCTIONEER BEFORE TRAVELLING News eBay traders in taxman's sights HM Revenue and Customs (HMRC) is planning to crack down on people who make a living through selling goods online but fail to pay tax on their earnings, experts warn. Trade high at Christmas Large amounts of feedback connote a high activity of trading that often represents the seller's primary source of income, he said. "Once these and other traders have been identified by HMRC there is likely to be a sudden surge of investigations," said Watt. Reports of the tax body's campaign follow a drive last week by eBay to encourage potential traders to make advance purchases of hotly tipped Christmas toys for sale in December when store stocks run low. eBay recommended sellers purchase Xbox 360 consoles, the Star Wars Electronic Lightsaber, The Da Vinci Code board game or the Tamagotchi Connexion, among others that it predicts will be atop most children's Christmas wishlists. In August 2004, it said, Playstation 2 consoles sold for approximately £99 in online auctions, but come December, when stores ran low on supply and demand was high, eBay traders were selling the gaming systems for up to £250. "Sellers on eBay are being encouraged to stock up on top-selling items, such as the latest computerised gadget from Japan, BowLingual, the dog translator, Playstations and iPods, with the suggestion that they can make a substantial profit over the Christmas selling period," said Watt. "eBay traders who are unregistered with the UK tax authorities, and who have not declared their eBay income, or are in any doubt about whether they should have paid tax in the past should take professional advice immediately, particularly as voluntary disclosure will help to reduce penalties that HMRC are likely to levy." Happy Homes Competition Norwich Union is launching a competition
to find Britain's HAPPIEST HOME. Thanks to Norwich Union, you
can turn your happy home into your dream home. Whether it's the
heart of your home that needs transforming, or the garden that
needs a makeover, Norwich Union will work with you to provide
the added touch that your home needs. The winner will receive
Habitat vouchers or a cash prize to the value of £8,000.
20 runners-up will receive £100 to buy that special something
for their homes. For a chance to win simply tell us in no more than 25 words what
makes your home happy. For example, is it a calm environment,
pets, children or décor?
Perhaps, your home is a happy one because it has a quirky name
or is cheerfully painted. Or maybe it's the security of knowing
you have trustworthy neighbours next door when you're on holiday.
Whatever it is we'd like to know about it! House price inflation at 9-year low in July House price inflation slowed to its weakest rate in more than nine years last month, Britain's biggest mortgage lender said on Friday, but it predicted a steady pick-up in market activity.House prices rose by 0.2 percent on the month in July but the three-month annual rate of increase slowed to 2.3 percent -- the lowest since April 1996, HBOS said in its Halifax house price survey. Halifax said the Bank of England interest rate cut to 4.5 percent on Thursday would reduce mortgage payments and there were signs of improvement in market activity such as a pick-up in loans approved for house purchase."Yesterday's 25 basis points cut in interest rates will reduce mortgage payments as a proportion of gross income for the average new borrower from 20 percent to 19 percent, the average for the past 20 years and well below the 34 percent peak in 1990," Halifax said.
First-time buyers on poverty 'knife-edge' Many would-be first-time homebuyers consider getting on the property ladder a passport to prosperity but, it seems, it can also be a financial millstone condemning some to poverty living. Runaway house price inflation has helped make many homeowners' fortune, as long as they have timed their house purchase and sales to make the most of the boom. But there is another side to the homeowners' tale and it is a million miles away from the sunny picture of instant profits painted by so many TV property programs. According to official government statistics nearly six out of 10 people defined as in poverty are homeowners. In this instance being in poverty is defined by social scientists and the government as earning below 60% of average incomes. "People normally think of people in poverty being single mums on council estates or people living in a rented bed-sit but this is a stereotype. "By far the largest number of people in poverty are homeowners, many of them young first-time buyers." Professor Roger Burrows of the University of York's sociology department, an expert on UK poverty, told BBC News. Poverty trapdoor According to Professor Burrows the financial strain of buying their first home leaves many first-time buyers with little disposable income. Many can't afford what many people consider to be essentials such as a second pair of shoes or keeping their home in proper decorative order. It only takes the lightest of touches to send people spiralling down - a period of illness or a divorce Marianne Ten Kate, Elizabeth Finn Trust How a life shock can lead to poverty Professor Burrows believes that millions of first-time buyers are at risk of falling through the poverty trapdoor. "Homeowners are at the greatest risk of falling into poverty during their first few years of homeownership, normally between ages 25 and 34. "In the past inflation has helped erode their mortgage debt but now with today's first-time buyers will be weighed down with their debts for far longer than in the past." Professionals on hard times Marianne Ten Kate of the Elizabeth Finn Trust, a charity which offers financial support to professionals who fall on hard times, millions of Britons could be living on a poverty knife-edge. "Savings have fallen to record low levels and millions do not have a safety net. "It only takes the lightest of touches to send people spiralling
down - a period of illness or a divorce," Ms Ten Kate said. The reality is that the 60 year old welfare state is not designed for homeowners Helen Wanless, Age Concern But can homeowners truly be in poverty, after all it is widely accepted that there is a whole generation of young people who can not afford to join their ranks? "If you consider that poverty is about lack of opportunity what could be more restricting that being mortgaged up to the hilt so much so that even a small change in your personal financial circumstances could lead to you losing the roof over your head," Professor Burrows said. As for simply selling up and relieving themselves of their property burden, Mrs Ten Kate told BBC News that this holds dangers. "Selling up means losing friends and crucially a point of reference. If the individual is already coping with a difficult situation in their life then such a step can lead to depressive illness," she said. State help lacking Homeowners often receive little state help, as they can be denied benefits available to people who rent or live in local authority housing or excluded from local regeneration initiatives simply because they own their own property. Housing benefit, for example, is, usually, only available to people who rent or live in local authority accommodation. In fact, overall, according to the Joseph Rowntree Foundation, only 8% of state help with housing costs go to homeowners. Even where there is help available, campaigners suggest that homeowners do not know about it or think that the fact that they are property owners bars them from making a claim. This problem is most acute amongst elderly homeowners - who are often asset rich but income poor, living off the state pension. Recent research has shown that just 40% of elderly homeowners entitled to council tax benefit actually claim it. "Older people in poverty, in particular, feel that state benefits are not available to them," Helen Wanless, spokeswoman for Age Concern told BBC News. In recent years, according to official figures, pensioner poverty has been on the decrease but still a large proportion of homeowners in poverty are elderly. Elderly people are generally far more likely to be owner-occupiers - after all they have had time to pay off their mortgage - and this group accounts for roughly half the total number of poverty-stricken homeowners. Often elderly homeowners want to hold onto their homes to pass onto their children but in the meantime face a struggle to make ends meet. "Many pensioners are owner occupiers and they have to choose between eating and mending a leak, repairing heating or protecting against damp." "They can obtain state loans to help with repairs but the reality is that the 60 year old welfare state is not designed for homeowners," Ms Wanless said.
The Positive Club "To dream anything that you want to dream. That is the beauty of the human mind. To do anything that you want to do. That is the strength of the human will. To trust yourself to test your limits. That is the courage to succeed." --Bernard Edmonds "There are those of us who are always about to live. We are waiting until things change, until there is more time, until we are less tired, until we get a promotion, until we settle down -- until, until, until. It always seems as if there is some major event that must occur in our lives before we begin living." -- George Sheehan "Let a person rejoice when he is confronted with obstacles, for it means that he has reached the end of some particular line of indifference or folly, and is now called upon to summon up all his energy and intelligence in order to extricate himself, and to find a better way; that the powers within him are crying out for greater freedom, for enlarged exercise and scope." --James Allen Remember
that if you are a HPI member that the database is constantly
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sales, also use the news and members' forum.
If you are not already a member of Hot Property Investor and which to gain access to the huge searchable database then please click here: http://www.hotpropertyinvestor.com and hit the join button for a choice of subscription options. There are hundreds of auction houses listed, 1,000s of sales a week. Kind regards |
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