I regret the unavoidable delay in reply and apologise for perhaps reading more into your statement of facts than was intended. As you will be aware, the government is shortly to issue a package for the self employed, realising that they are an integral part of the economy and realising that this situation goes beyond the normal 'risk and reward' stated elsewhere. I hope it is non age discriminatory.
I trust that you are young. The state pension is due to contributions made throughout fifty years of working. The 80 per cent of guaranteed pay is nothing, or should be nothing, to do with state pension, but related instead to loss of earnings.
Yes, it seems that anyone self employed over state pension age gets nothing at all, unless I'm missing something. Presumably this restriction doesn't apply to those still in paye employment and able to receive 80 per cent of their pay. Once again, the self employed are unfairly discriminated against.
I'm probably being a bit thick here as I cannot see the difference in the two. In the first month the letting income received was slightly under the 5% and so it was topped up, however, had no rent been received the sum paid to the unit owner would have been the full 5%.
My answers
Thanks, that confirmed what I thought.
I regret the unavoidable delay in reply and apologise for perhaps reading more into your statement of facts than was intended. As you will be aware, the government is shortly to issue a package for the self employed, realising that they are an integral part of the economy and realising that this situation goes beyond the normal 'risk and reward' stated elsewhere. I hope it is non age discriminatory.
I find your comments so incorrect and insulting that I am at a loss as how to reply.
I trust that you are young. The state pension is due to contributions made throughout fifty years of working. The 80 per cent of guaranteed pay is nothing, or should be nothing, to do with state pension, but related instead to loss of earnings.
Yes, it seems that anyone self employed over state pension age gets nothing at all, unless I'm missing something. Presumably this restriction doesn't apply to those still in paye employment and able to receive 80 per cent of their pay. Once again, the self employed are unfairly discriminated against.
I'm probably being a bit thick here as I cannot see the difference in the two. In the first month the letting income received was slightly under the 5% and so it was topped up, however, had no rent been received the sum paid to the unit owner would have been the full 5%.
Thanks, where would the income be reported on the tax return, and would any expenses be available against it?
I don't have them all as yet, although I expect them to be frightening. The property sold for £915,000.
Yes, the more I read the worse it gets. However, it is possible, that initially, it was their intention to let the land.
Thanks, I think I will just treat the interest as that of the individual's and enter it on their individual Returns.