Boris Bought my Boat

[Bigplumbs]

Because I have far to many boats of all shapes and sizes (many very small) I decided now would be a good time to sell one of them. Firstly I never in my wildest dreams thought that one of my boats could ever turn out to be an investment.

It did however and has made a 78 % return (profit) on investment in 6 years. Not bad but who would have ever thought that. I know I have spent other money on it but I discount that both on the grounds of Man Maths and also on the grounds that I have used it many times and had great pleasure from it. Also as I find myself saying more and more as I get older 'It is not all about money'

The other interesting thing is that when I sold it the Buyer who was an incredibly nice chap told me that Boris bought it for him. When I said Huhhhhh. He replied that (you guessed it) he was able to claim money from the current schemes associated with Covid and was using the money to buy the boat.

I am not judging people in this regard and actually feel that in times past our Government has supported the mega rich (The Bankers for example) and during the current difficult times have now stepped up to support the normal working man and hats off to them for doing so. I am no Tory and never will be but for this I applaud the bloke with the Dodgy hair.

I still have several others to take out on the water and am actually very pleased that another family will enjoy the boat we both loved and enjoyed.

I will not disclose any other details about the sale as I don't think that would be fair to the Buyer.

Her indoors recons I must not use the proceeds from this sale to buy another boat to add to the ones I still have.

 

[Boat2016]

No Boris hasn’t bought your boat...us taxpayers have and is a total disgrace that the national debt is rising by the day giving public money away to many who don’t need it, hopefully an investigation will take place and money will be returned.

 

[Bigplumbs]

No Boris hasn’t bought your boat...us taxpayers have and is a total disgrace that the national debt is rising by the day giving public money away to many who don’t need it, hopefully an investigation will take place and money will be returned.

No comment on a Boat turning out to be an investment. Or us taxpayers giving billions to the Rich Bankers in the past. There are many things that are a disgrace. Some are highlighted. Some suite some people and some suite others. One wonders if those that are outraged have ever been involved in any disgraceful actions....... I suspect we will never know.

By the way please remember that all I did was advertise and sell one of my boats so that others could use what I was not using. Yes I was paid money for it but I think that is quite normal

 

[julians]

Depends on the details - not enough info to conclude whether the buyer was scamming the tax payer or not.

If the buyer was simply spending furlough money that was legitimately paid to him/her because he couldnt work due to covid I dont see any issue. If he was still working and earning normally and not affected by covid , and has fraudulently claimed furlough on top and this extra cash enabled him to buy the boat then thats wrong, but its not big plumbs fault or place to police the system.

The furlough is just one of the ways the govt has been supporting people.... generally its been a good thing, but obviously some have scammed the system - no idea in this instance whether that is the case.

 

[Bigplumbs]

Depends on the details - not enough info to conclude whether the buyer was scamming the tax payer or not.

If the buyer was simply spending furlough money that was legitimately paid to him/her because he couldnt work due to covid I dont see any issue. If he was still working and earning normally and not affected by covid , and has fraudulently claimed furlough on top and this extra cash enabled him to buy the boat then thats wrong, but its not big plumbs fault or place to police the system.

The furlough is just one of the ways the govt has been supporting people.... generally its been a good thing, but obviously some have scammed the system - no idea in this instance whether that is the case.

Many thanks for that considered reply. I can inform you that in this particular case the buyer had one business only and from my experience also last year was in an industry that was greatly affected in a bad way by Covid.

The thing that amazed me the most was that what most of us for years would have considered as a costly depreciating asset actually turned out to be a good investment. Who would have guessed.

Bit like Brexit turning out (because of the whole EU vaccine thing) to have saved many people because of our quicker vaccination programme.

Just goes to show we think we can predict but perhaps we cant.

 

[Deleted User YDKXO]

No Boris hasn’t bought your boat...us taxpayers have and is a total disgrace that the national debt is rising by the day giving public money away to many who don’t need it, hopefully an investigation will take place and money will be returned.

Agreed. All of the Covid financial packages have been widely abused and there has to be an Inquiry into how and why this happened and who is responsible because it will be our kids and grandkids who pay for the billions that have been spaffed away on this

As a business owner myself, I have been inundated with offers of govt backed CBILS loans over the last few months being pushed by finance companies I've never heard of. Just in case anybody doesnt understand how these work, companies can borrow hundreds of thousands of pounds and they dont have to pay a penny back in the first year because the money is guaranteed by the UK govt and, not only that, the UK govt picks up the first year's interest payments as well. So for any unscrupulous people, the attraction is obvious ie use an existing company to borrow as much as they can, take it out of the company and then bust the company before the first year is up.

The other big scam has been abuse of the furlough scheme whereby companies have been furloughing their staff, collecting £2500 a month from the govt and then re-employing those staff on a cash in hand basis. Hey presto the company continues to operate and makes even more profit because the govt is paying £2500 per month for every staff member. And the staff are delighted because they get cash in hand with no tax deductions

I'm not saying that either of these methods is how the OP's buyer acquired the cash to buy his boat but his comment certainly suggests it was something like this and actually it should be the OP's duty to report that comment to HMRC

 

[BruceK]

Or us taxpayers giving billions to the Rich Bankers in the past. There are many things that are a disgrace. Some are highlighted. Some suite some people and some suite others.

I can see your perverse logic in this but I am just as outraged by both and particularly of our own leaders and MP's who rob the system from personal expenses onwards. Corruption in a Western system can never be condoned. I say Western because a "gratuity" expense is accepted practise and works well in many other cultures I have been exposed to.

 

[Portofino]

I see a baron field metaphorically speaking with no rain .Result a poor harvest .
Alternatively throw randomly by hand walking the field seeds on the land , water it and wait .

What do you see a fruitful germinating crop .Might not be as neat as a proper machined and sprayed ( pest / weed / Fert ) field but it’s green and growing .

Ok the furrows are not exactly straight and some seeds have been thrown by the wayside and there are weeds ( Mike’s fraud / waste points ) but it was better than a baron field .Even better if your fellow Europeans ( neighbours) have baron bare fields , yours is lushes and green compared to there brown stony field .

EU is double dipping recession wise while U.K. is heading for record growth .

If you ( gov ) prints £ and dishes it around( like scattering seeds by hand ) eventually a significant portion comes back to the treasury in taxes and in this case lower net benefit/ social chargers .
Sure as with any scattering there will be wastage , but the gov had to act quick so the scheme was developed on the hoof .

As far as national debt .Yes in absolute terms , but no if comparative terms .The extra debt carried by say the U.K. has to be compared to its economic direct competition , other G7 or what ever ,
Its all relative in terms of its effect on the citizens.If there’s has risen as well in proportion to there indexes then the U.K. will not notice .

In effect the money supply has rocketed and a mini boom is afoot which as I say a significant amount will wind up back at the treasury long term .Death and taxes etc = certainty thingy .


Ps you can if you want walk through my green field and hand pick the weeds out Mike if it bothers you .The cheaters .

 

[Caraway]

Her indoors recons I must not use the proceeds from this sale to buy another boat to add to the ones I still have.

She is, obviously, correct.

 

[Greg2]

I must admit that I struggle a bit with the generosity of Govt spending on Covid support.

A mate runs a very small business and just needed a few grand to see him over but the only option was to have nothing or a fixed £10k, which was far more than he needed. No facility to apply for less so he effectively had no choice, because he did need some money, and he took the £10k. Don’t know what he used it for but he didn’t buy a boat and he did make contributions to a Food Bank because he thought that was a good use of money he felt he shouldn’t really have been given.

Ultimately it comes down to personal ethics and integrity I guess.
.

 

[ICTM]

Agreed. All of the Covid financial packages have been widely abused and there has to be an Inquiry into how and why this happened and who is responsible because it will be our kids and grandkids who pay for the billions that have been spaffed away on this

As a business owner myself, I have been inundated with offers of govt backed CBILS loans over the last few months being pushed by finance companies I've never heard of. Just in case anybody doesnt understand how these work, companies can borrow hundreds of thousands of pounds and they dont have to pay a penny back in the first year because the money is guaranteed by the UK govt and, not only that, the UK govt picks up the first year's interest payments as well. So for any unscrupulous people, the attraction is obvious ie use an existing company to borrow as much as they can, take it out of the company and then bust the company before the first year is up.

The other big scam has been abuse of the furlough scheme whereby companies have been furloughing their staff, collecting £2500 a month from the govt and then re-employing those staff on a cash in hand basis. Hey presto the company continues to operate and makes even more profit because the govt is paying £2500 per month for every staff member. And the staff are delighted because they get cash in hand with no tax deductions

I'm not saying that either of these methods is how the OP's buyer acquired the cash to buy his boat but his comment certainly suggests it was something like this and actually it should be the OP's duty to report that comment to HMRC

couldn’t agree more...........

 

[Mr Googler]

I’ve never lost money on a boat….you do have to take out transport fees, broker fees, insurance, fuel, moorings, servicing, upgrade costs, gear for the boat, time lost working on boat, money spent on things at home because of the “bloody boat”, expensive holidays taken because you spend all your time on the “bloody boat” but…..I’ve never lost money on a boat ??

 

[hinch]

Her indoors recons I must not use the proceeds from this sale to buy another boat to add to the ones I still have.

check out this advert for a little project cuddy just in need of ................. ?

 

[Deleted User YDKXO]

I’ve never lost money on a boat….you do have to take out transport fees, broker fees, insurance, fuel, moorings, servicing, upgrade costs, gear for the boat, time lost working on boat, money spent on things at home because of the “bloody boat”, expensive holidays taken because you spend all your time on the “bloody boat” but…..I’ve never lost money on a boat ??

By order of the elders of the Motor Boat Forum I bestow upon thee Fellowship of the Supreme Court of Man Mathematicians for services to boating

Well deserved by the sound of it

 

[BruceK]

I’ve never lost money on a boat….you do have to take out transport fees, broker fees, insurance, fuel, moorings, servicing, upgrade costs, gear for the boat, time lost working on boat, money spent on things at home because of the “bloody boat”, expensive holidays taken because you spend all your time on the “bloody boat” but…..I’ve never lost money on a boat ??

Stop rocking my boat!

 

[Bigplumbs]

Agreed. All of the Covid financial packages have been widely abused and there has to be an Inquiry into how and why this happened and who is responsible because it will be our kids and grandkids who pay for the billions that have been spaffed away on this

As a business owner myself, I have been inundated with offers of govt backed CBILS loans over the last few months being pushed by finance companies I've never heard of. Just in case anybody doesnt understand how these work, companies can borrow hundreds of thousands of pounds and they dont have to pay a penny back in the first year because the money is guaranteed by the UK govt and, not only that, the UK govt picks up the first year's interest payments as well. So for any unscrupulous people, the attraction is obvious ie use an existing company to borrow as much as they can, take it out of the company and then bust the company before the first year is up.

The other big scam has been abuse of the furlough scheme whereby companies have been furloughing their staff, collecting £2500 a month from the govt and then re-employing those staff on a cash in hand basis. Hey presto the company continues to operate and makes even more profit because the govt is paying £2500 per month for every staff member. And the staff are delighted because they get cash in hand with no tax deductions

I'm not saying that either of these methods is how the OP's buyer acquired the cash to buy his boat but his comment certainly suggests it was something like this and actually it should be the OP's duty to report that comment to HMRC

1) Nature conspired against me and my wife such that we could not have Children so of course no Grand Children either. Please tell me why I should worry about yours having to pay.

2) So some bloke got Money from the government legitimately in accordance with the rules and because you don't like what he spent his money on I should report this to HMRC..... How would that work........ Priceless

 

[Nito]

Hard to comment without context. A lot of these support payments were loans and require paying back. Sure they could fold the company, or they might pay it back at 2.5% interest for the remainder of the loan period, from a quick read it's a 6 year loan with no interest in year 1 then 2.5% thereafter. Those companies that fold may well be investigated I suspect but who knows.

With regards to the boats appreciation, being in the position of just buying our first boat at what could be seen as the 'height of the market', taking wishful man maths a step further, I wonder, if I never sell it, will I experience any depreciation?? ;D

 

[Bigplumbs]

Hard to comment without context. A lot of these support payments were loans and require paying back. Sure they could fold the company, or they might pay it back at 2.5% interest for the remainder of the loan period, from a quick read it's a 6 year loan with no interest in year 1 then 2.5% thereafter. Those companies that fold may well be investigated I suspect but who knows.

With regards to the boats appreciation, being in the position of just buying our first boat at what could be seen as the 'height of the market', taking wishful man maths a step further, I wonder, if I never sell it, will I experience any depreciation?? ;D

If you never sell it which is where I usually am then certainly you will not suffer any depreciation ever and that is a nice place to be...... I have always considered that once I spend my money that is it gone completely. If one day I am lucky and I get £1 back for it then that is £1 I never had.......... Me selling this boat is most odd as I generally never sell anything. I just buy more sheds to put it all in

 

[ari]

No Boris hasn’t bought your boat...us taxpayers have and is a total disgrace that the national debt is rising by the day giving public money away to many who don’t need it, hopefully an investigation will take place and money will be returned.

Precisely this. Always staggers me when people refer to 'the government's money', the government has no money!