The Telegraph has a story today suggesting that ‘the taxman is taking a much tougher line with
owners of buy-to-let properties who try to follow MPs' example by 'flipping' the place they call home to avoid
capital gains tax (CGT).’
Basically, profits on the sale of a property are CGT-free if it is or was your principal private residence (PPR)
for any period of time within the past three years. So, as you can imagine, there is some scope for creativity here
- we have a how to article available on request.
But be warned. The Telegraph reports that HMRC has a new computer system to compare data on stamp duty with CGT
declarations by owners of more than one property. Two recent tribunal rulings in HMRC's favour suggest that more
evidence will be required by BTL investors who want to ‘flip’ in future.
Our friends at t1ps.com tell us that Easydate (EZD) is London's only listed firm to be a pure play on the fast
growing online dating sector. Founded in 2005 by current directors Bill Dobbie and Max Polyakov, the
Edinburgh-based business joined AIM in June this year, raising £8.8 million net.
Easydate has expanded rapidly in the past three years both organically and by acquisition. Notable deals include
the March 2008 takeover of www.speeddater.com and the March 2010 purchase of Allegran, which operated the Daily
Mail's online dating business.
Shares in Easydate have performed very well since the firm listed, with them currently changing hands at almost
twice the 60p IPO placing price. With a strong financial position, which puts the company in a good position to add
further websites to its portfolio, t1ps.com see the rapid growth continuing and as such rate the shares as a buy.
We have a fuller article on request.
If you are looking to buy property overseas, do watch for improving accessibility via rail and air links. For
example, new high speed TGV lines are to run in France between Bordeaux and Toulouse and from Bordeaux down to the
This improvement to the South West of France’s transport lines will link in with the new extension between Bordeaux
and Tours and reduce the total travel time from Bordeaux to Paris from three hours to two, while travel time from
Toulouse to Paris will now be just three hours.
These new plans will be completed by autumn 2011 which interest those currently looking for property in these
areas. The French Government is ultimately hoping to link the Atlantic and Mediterranean coasts via the TGV, and
create a high speed link to Madrid and Lisbon.
When Albert Einstein was making the rounds of the speaker's circuit, he usually found himself eagerly longing to
get back to his laboratory work. One night as they were driving to yet another rubber-chicken dinner, Einstein
mentioned to his chauffeur (a man who somewhat resembled Einstein in looks & manner) that he was tired of
"I have an idea, boss," his chauffeur said. "I've heard you give this speech so many times. I'll bet I could give
it for you."
Einstein laughed loudly and said, "Why not? Let's do it!"
When they arrived at the dinner, Einstein donned the chauffeur's cap and jacket and sat in the back of the room.
The chauffeur gave a beautiful rendition of Einstein's speech and even answered a few questions expertly.
Then a supremely pompous professor asked an extremely esoteric question about anti-matter formation, digressing
here and there to let everyone in the audience knew that he was nobody's fool.
Without missing a beat, the chauffeur fixed the professor with a steely stare and said, "Sir, the answer to that
question is so simple that I will let my chauffeur, who is sitting in the back, answer it for