Bbrich

Brenda Holloway reconsider................

If such a collector was selling their collection that was all acquired some time ago you would have a good argument against 'trading' on the other hand someone regularly buying & selling, often selling some of the records after only holding them for a short period of time would struggle to argue 'not trading'. an important point that many dont appreciate is that HMRC may say they consider you are trading but if you disagree you can argue your case, even going to a tribunal (& subsequently appeal thro the courts...) and it would be decided on the balance of those 9 'badges of trade'.

Whether you are subject to income tax on selling records depends on whether HMRC consider you are trading. They look at so called 'badges of trade' to decide... this is helpful on this; THE BADGES OF TRADE USED BY HMRC The ‘badges of trade’ tests, are used by HMRC to help determine whether an activity is a trading activity (business). Careful consideration needs to be given when deciding if a hobby has become a taxable activity. If that happens, your trading activities will be subject to Income Tax and National Insurance. This post will provide basic information on badges of trade that HMRC use to establish if you are trading. What are Badges of Trade? HMRC will use some or all of the following nine criteria to assess if something is a trade: Profit-seeking motive The number of transactions The nature of the asset Existence of similar trading transactions or interests Changes to the asset The way sale is made The source of finance Time between purchase and sale Method of acquisition These ‘badges’ will not be present in every case and of those that are, some may point one way and some the other. The presence or absence of a particular badge is unlikely, by itself, to provide a conclusive answer to the question of whether or not there is a trade. The weight to be attached to each badge will depend on the precise circumstances. There have been many cases over the years as the answer has not been clear cut, which in turn have helped to create the badges of trade list by the precedents set.

This is v.rare & love it when chorus kicks in...

dont think this has been posted;

Hi, was there a sizeable find? & was it issues or demos. thanks.

3 of my favourites off the top of my head; 2 already mentioned; Admirations/Aspirations - You left me / I want to be free & Servicemen- Are you angry/I need helping hand. dont think this has been mentioned; Calvin Grayson - you've got to be willing/Love just begun, possibly my all time favourite... https://www.google.com/search?q=calvin+grayson+youve+got+to+be+willing&rlz=1C1EJFA_enGB755GB755&oq=calvin+grayson+youve+got+to+be+willing&gs_lcrp=EgZjaHJvbWUyBggAEEUYOTIJCAEQIRgKGKABMgkIAhAhGAoYoAHSAQkxMjkwM2owajeoAgCwAgA&sourceid=chrome&ie=UTF-8#fpstate=ive&vld=cid:4c9087ba,vid:rmgmAyUhTRU,st:0

Sad news, nice guy & very helpful..... thoughts with family & friends.

We just got back from 10 days in Ibiza & go a couple of times a year. Most places we find the prices on a par with UK (apart from the super clubs......) & if you go to the more 'local' bars/restaurants very good value and much better food than UK. e.g. grilled sole for me, missus had steak. 2 beers each (estrella galicia in bottles), 36euros, free nightcap afterwards.

same here....

Hi Stephen, this is a great little bar... https://www.ibiza-spotlight.com/night/venue/malanga-cafe not just soul but decent music, very central right by the Ibiza town marina. doesn't liven up till late like most Ibizan bars. (mostly locals & very friendly place). I maybe didn't catch it on the right night but Liquido in Santa Eularia was just general tourists with a bit of motown played in the background...

We do a soul nite say once or twice a month & 2 -3 weekenders per year, sticking to events run by people who have been around a long time. Musically they are probably on the whole as good as ever, but the atmosphere will not compare as each year people spend more time socialising & less time dancing.... old age generally means most people dance to say 10% of the records whereas would have been 90% when we/they were younger. Personally I'd rather not see any pics/videos of events as it just emphasises that it isn't what it was when we were younger..... At the end of the day it is all we've got and the people/friends we've made along the way make it worthwhile.

Total sympathies for Ted - an unimaginable experience and loss. Lets just hope these records somehow get returned and it doesn't put Ted off doing what he does best and sharing them with crowds around the country. Whoever is behind this or is tempted to keep quiet if anything comes their way has in some way attacked the whole scene... we have probably lost the opportunity to ever listen or dance to some of these records at a proper event. Every one will be even more nervous regarding their own collections. DJ's will have to be on their guard to and from events etc...

Last allniter was pre-covid & generally could last till 5 or 6 (no gear only beer).

Some of the worst records (IMO) that also ram a dancefloor are actually quite cheap. I would probably like this version more if I didn't hear Robert Thomas virtually every time I go out.

If I remember rightly this Cresa version went for about £1300 a few years ago (maybe 4 - 5 years) - think it was on Ebay. It was discussed on here and deemed to be a bargain.

Hi, please pm with price and condition (vinyl & label), many thanks.

Pretty much explains it for IHT (wasting assets/chattels etc.. is to do with CGT i.e. tax on disposals whilst alive, as opposed to IHT, tax on estate on death). worth noting that (in simple terms) for say a married couple with a house they can have £1m of assets before IHT kicks in.

But you would then have the cash to the value of the originals sold (or some other assets) so still part of your IHT calculation..... (& easier for HMRC to spot cash/bank balances etc...)

Also remember the compass club from mid-seventies holidays to Torquay....... dont recall the 'scotch club' but to be fair dont really remember very much from those trips......... !

the bottom line for me is simply that i dont want to go to a 'proper soul night' and hear a tune that is played virtually every day on mainstream radio (RLSD), IOHWILAY isn't and I think I only heard it played by anyone else once in last 10 years.

Please pm with price & condition - many thanks Rich

Please pm with price and condition - many thanks Rich