FAO Chartered Accountants


#521

Lads,

Now that the taxman is about to ride me without lube on my airbnb income, is my mortgage interest a deductible expense against the income?


#522

Not a fucking hope I’d say unless it is your main source of income, bud. You can probably deduct the new bed sheets, bleach, rope, cable ties and bin liners for your “guests” though.


#523

Its a deductible on the income from my rental property. I would have thought that given the cunts are also taking a year of PPR off me that I would be able to claim


#524

Perhaps the interest for the days in question I.e if you had guests for 2 days in a month then 1/15th of the interest for that month? Although only 75% of interest can be written off for full time letting so that might apply too …


#525

I doubt it; if you are losing the PPR CGT for the entire year then they can’t just apply the relief for interest on a day by day basis


#526

I’m not an accountant but isn’t there usually a principle of matching the expenses against the revenue?


#527

Dunno

@farmerinthecity @balbec


#528

It is a very long time since I have given tax advice, if ever. I reckon you should fall in, pay what you owe and stop whining like a bitch about it.


#529

I’ve no problem paying. Its just what expenses I’m legally entitled to claim against it


#530

:smile:


#531

When will the GBP/Euro fx rates peak?

I have a five figure GBP deposit account balance that I’m currently considering exchanging, the current rate is £1/€1.36. Is this likely to increase and should I hold off?


#532

Do it now pal.


#533

You should have done it in July


#534

What was the rate then?


#535

About €1.45 I think


#536

Agreed. The Brits still have the ability to devalue their own currency. Unless he waits until they announce the date of the referendum on Europe which may or may not lead to a strenghtining of sterling depending on opinion polls. Really is a toss of a coin though


#537

I can give you some magic beans for that five figure sum.


#538

No thanks, you live in a third world country.


#539

I’ll swop it for some Nazi gold. Need to get it out of my garage soon.


#540

I believe I would compromise myself by accepting that given my stance with the holocaust deniers on here of late. I will reject that offer on those grounds.