Banks

[Bill Henry]

MMM....... MIRAS......UREKA!

Not being totally familiar with British-speak, I had to look up MIRAS.

This proposed “tax credit” is different. We have always been able to deduct interest payments on our U.S. Federal Income Tax form.

With this proposed plan, if, say, you earned $50,000 / year, you would get a credit for $15 K, so you would only have to declare income of and pay taxes on $35,000.

After declaring this “new, improved” income, you can then begin deducting things such as medical expenses, charitable contributions, gambling losses, and the like. After you exercise this credit, most people who bought a house would be paying virtually nothing in income tax.

For the poor schmucks like myself who have been dutifully paying my mortgage and taxes, I would be subsidizing other peoples housing.

Damn Democrats!

[silvercleave]

If gambling is tax deductable I'm off to the booky in the morning, wot happens if you win??

[Moglet]

...If gambling is tax deductable ... wot happens if you win??

Ask Bertie Ahern.

[gesso]

Not being totally familiar with British-speak, I had to look up MIRAS.

This proposed “tax credit” is different. We have always been able to deduct interest payments on our U.S. Federal Income Tax form.

Now you remember why 1776 came about.
We've still to get the balls together to have ours. Fat chance now we're on the run with our KFC in one
hand and remote in the other.
The plan worked. We are that frog in the boiling pan of water.

[gesso]

Hey guys and gals some good news at last

NatWest historical terms are penalties - Official!!!

--------------------------------------------------------------------------------

NatWest 2001 Conditions are penalties - Official!!!

NatWest's historical terms and conditions from 2001 have been ruled to be unenfirceable penalties!!

This is the conclusion of a judgment given today by Judge Andrew Smith, the High Court judge who is presiding over the OFT test case.

This has important consequences for NatWest customers - both pesonal and business.


These are the conclusions from today:

33. Therefore,

i) I shall strike out from the OFT’s pleading (Annex G2 to its Defence to Counterclaim) the references to Abbey’s May 2005 conditions.

ii) I shall grant Lloyds TSB the declaratory relief that it seeks.

iii) I shall grant RBSG declaratory relief in respect of the NatWest 2004 conditions, the RBS 2005 conditions and the NatWest July 2003 leaflet, but not in respect of the NatWest 2001 conditions.


More info to follow

http://www.consumerforums.com/
__________________
Alan, Derby, UK.

[griff buch]

I’d write to my congressman if only she could read.

Golly! Over here that would be considered sexist!!

[Bill Henry]

If gambling is tax deductable I'm off to the booky in the morning, wot happens if you win??

I should clarify a bit. You must declare any winnings as income and pay taxes as such. Any losses due to betting on the wrong nag can be deducted against the winnings. However, if you are a chronic loser, tough luck. You cannot deduct more than your winnings and reduce/escape taxes that way.

Unless you purchase lottery or pari-mutuel (?sp) tickets by check or credit card, I would imagine that it’s awfully difficult to prove how much you have sunk into your wagering. The tax folks over here take a very dim view of betting. (They figure gamblers are a shady and shifty bunch by definition.)

I don’t know what would happen in Las Vegas if you hit a real jackpot at a slot machine. I’m not sure how easy it would be to prove you dropped 10,000 quarters in the coin thingamabob before you scored big. But, with a big win, rest assured that the casinos grab your social security number before you can cash out.

[Bill Henry]

My wife is a rabid letter writer to our congress(people). Actually, she screams and yells at The Honorable Senator Jeanne Shaheen (via e-mail) at least once a week, mainly about the economic bailout.

After the last election, since President Bush was so unpopular, in our State, the electorate swept out most of the Republicans from office.

Now, we are blessed by having a flaming liberal, “Ooooh, isn’t President Obama wonderful”, nincompoop representing our “interests” in Washington. By all accounts her I. Q. is less than a blind man’s bowling score.

[Moglet]

My wife ...screams and yells at The Honorable Senator Jeanne Shaheen (via e-mail) at least once a week...

I save myself the ignominy of having my emails ignored, and settle for yelling and screaming at news/current affairs rackets.

Re betting, it seems you guys may be worse off, Bill. To the best of my knowledge, in the UK (and I would assume Ireland) if you place a bet with a bookie, you can either pay tax on your stake, and the winnings are then tax-free, or vice versa. Lottery prizes are tax-free. Not sure about other forms of gambling.

What gets me is your comment about gambling types being frowned upon. If so, how come the NYSE wasn't shut down eons ago????

[gesso]

Bank phoned dying debtor 313 times
Banks are harassing vulnerable customers in defiance of court orders and official rules, but consumers are fighting back

http://www.timesonline.co.uk/tol/news/u ... 536915.ece


No more mr nice guy with these jerks I have had first hand experience with this kind of treatment .
I have opened a new account and have sent a Legal Distpute letter ( this means no charges ,interest no default notice can be applied to my account ) to (BOS) demanding any charges incurred over the past few years back. The govenment are usless and we are going to have to foot the bill

[Moglet]

The govenment are usless and we are going to have to foot the bill

Spooky! We've got one o' them over here, too.

As you may know, Anglo Irish Bank was recently nationalised by the Irish gum'mint. I posted in another thread earlier in the week about a Gang of Ten investors in Anglo Irish Bank (dubbed "The Golden Circle" in the media over here) to whom Anglo Irish loaned €30M in order to buy shares in Anglo Irish. What I didn't make clear was that they were loaned €30M each!

Yesterday evening, a report from Price Waterhouse Coopers was released (well ... the bits without Tipp-Ex were), where it was revealed that the Gang of 10 received total loans in excess of €450M in order to purchase shares in the bank. There are calls from all quarters to name names, but oh no! the privacy of the shareholders must be respected.

Yet the gum'mint seem to have no problem whatsoever poking around in Paddy Average's financial affairs, and they don't stop because you're dying. Indeed, they'll keep going after you're dead, as I discovered when my mother's will was going through probate. They wanted to know where this, that, and the other came from, and even asked me for both my parents' social security numbers. My parents didn't discuss any of their financial affairs with me, and I certainly didn't have a clue what their social security numbers were, and I guarantee you that they didn't know mine either: it was not the stuff of conversations in our family. The whole process felt like they were trying to dig up dirt on my parents (who were average, decent, law-abiding folks), and it was relentless. I found the whole experience very distressing on an emotional level.

Perhaps now you understand why I despise the system so much: the Irish Government do a big softly softly number with the banking "big boys" (including about 15 Anglo Irish customers who received loans from the bank in excess of €500M each), and yet they have no qualms about pursuing my parents as they lay in their grave on the off-chance that they might owe a few bob in taxes.

Words have not yet been invented that can convey my utter contempt for The Machine.

HUGE one of these ------->

[gesso]

Banks have lost in the courts yet again today next step House of Lords then European Court, stays to remain inplace for the next 5 months . Something smell fishy here?

[Moglet]

Anglo Irish Bank latest. Fraud squad have been in this week.

[gesso]

Below is a copy of the email I received this morning from the guy who started the whole reclaiming charges

Great news

Dear member

please note the link below, we have now won round two of the fight i started way back in 2004/5

Bank charges appeal is thrown out

An appeal by eight banks against a ruling that a regulator can investigate the fairness of overdraft charges has been thrown out.

The Appeal Court ruled that the Office of Fair Trading (OFT) has the power to look into the issue.

Master of the Rolls Sir Anthony Clarke said the banks could not appeal against the decision in the House of Lords.
Tens of thousands of claims currently on hold in the English and Scottish legal systems will stay frozen.
Sir Anthony dismissed the appeal and told the banks they should now allow the OFT to decide whether their charges were fair or not.

However, cases will stay frozen until the OFT has concluded its investigation.

http://news.bbc.co.uk/1/hi/business/7910852.stm

Warm regards

Stephen Hone

Want to get your own back on the banks illegal actions over the past 6 years get ready!

[gesso]

Just a little reminder of happier times

http://www.dailymail.co.uk/news/article ... nsion.html

Don't forget the penalty charges case goes to the house of lords on June 22 the only place for the banks to run after that is the EU courts. It is also reported that come this November the EU parliament will pass laws requiring banks British banks to limit these charges to "at cost" basis reducing today's fees from £35 down to £2.50 NOW WHO'S VOTING FOR UKIP?

[gesso]

Of course when I said House of lords I meant Law Lords.
God forbid it went to the unelected chamber of back-handers and jobs for the (old) boys!

And despite small victory for those business account holders with Natwest both the FSA and OFT have well and truly shafted All business account claimees by not representing their interests what so ever.