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Business Start-up - Re mortgage

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  • 14-09-2006 11:35am
    #1
    Someday
    Registered Users Posts: 379 ✭✭


    Hi Guys

    I have a Pad now worth €400K and i beleive Bank of Scotland will offer up to 95% on a Re mortgage. I would like to place this money in to a business but i don't want to tell them that. Could i say the 75K is being used for a new Car, doing the house up and a 3 week Holiday or how can i remove the money with a good excuse ?

    Thanks


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    #2
    EKRIUQ
    Registered Users Posts: 4,386 ✭✭✭EKRIUQ


    Interesting, thinking of doing something similar and the main thing is with regard the payment weather you'll get the funding.
    have a look here
    http://www.askaboutmoney.com/showthread.php?t=36268

    Maybe a long term business loan over 20 years could do the job.


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    #3
    ircoha
    Closed Accounts Posts: 2,290 ✭✭✭ircoha


    Someday wrote:
    Hi Guys

    I have a Pad now worth €400K and i beleive Bank of Scotland will offer up to 95% on a Re mortgage. I would like to place this money in to a business but i don't want to tell them that. Could i say the 75K is being used for a new Car, doing the house up and a 3 week Holiday or how can i remove the money with a good excuse ?

    Thanks

    The one thing you dont do with a bank is lie, because if they find you out they can call the loan.


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    #4
    ircoha
    Closed Accounts Posts: 2,290 ✭✭✭ircoha


    BingoBongo wrote:
    Interesting, thinking of doing something similar and the main thing is with regard the payment weather you'll get the funding.
    have a look here
    http://www.askaboutmoney.com/showthread.php?t=36268

    Maybe a long term business loan over 20 years could do the job.

    just had a read of the post above.

    Are they mad?
    people posting in a public forum about how much money they dont pay tax on.

    with the draconian powers the Revenue have, if they chose to, the poster appollo is a dead duck.

    BingoBongo, if u are a meneber, pls pm apollo and get him to edit his posts


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    #5
    Our man in Havana
    Closed Accounts Posts: 29,476 ✭✭✭✭Our man in Havana


    Tips are gifts so no tax is payable according to those ppl. Can anyone confirm?


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    #6
    RainyDay
    Closed Accounts Posts: 6,925 ✭✭✭RainyDay


    Bond-007 wrote:
    Tips are gifts so no tax is payable according to those ppl. Can anyone confirm?
    I can confirm that this claim is rubbish.
    ircoha wrote:
    Are they mad?
    people posting in a public forum about how much money they dont pay tax on.

    with the draconian powers the Revenue have, if they chose to, the poster appollo is a dead duck.

    BingoBongo, if u are a meneber, pls pm apollo and get him to edit his posts
    Why would you want to protect a tax evader? Are you happy that our public services are deprived of funding so that he can feed his untaxed income into his home?


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    #7
    delanest
    Closed Accounts Posts: 216 ✭✭delanest


    ircoha wrote:
    just had a read of the post above.

    Are they mad?
    people posting in a public forum about how much money they dont pay tax on.

    with the draconian powers the Revenue have, if they chose to, the poster appollo is a dead duck.

    BingoBongo, if u are a meneber, pls pm apollo and get him to edit his posts

    Typical Irish attitude, try and encourage someone to get away with not paying tax - who do you think that is costing ?


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