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gruffydd

Rosie ****head Writes In The Telegraph...

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These people who may be expecting to fund retirement from the sale of a second home will have bought it many years ago, when they knew that CGT was replicating the income tax rates. So if that is put back, then it's the same as they thought it would be all along. Just as with all investments and retirement pots there is some taxation involved whether in a fund or at the realisation.

People should think of the country and not just themselves at this time. We have a war on debt to fight and all of us should pull together to have it over with as soon as possible.

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Why are they worried if it's a "long term fund" for their retirement?

Or maybe it's really a disguised short-termist 'accumulator'?

The thing I want to see tackled, if the wealthiest Billionaires and Millionaires in the land are now worth 4x what they were 10 yrs ago (just for sitting on their ass-ets) - why are they not being targeted to bring them back down to earth with the rest of us?

Hit 'em with an 'Accumulation' Austerity Tax!

How much do they need to survive on?

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Rosie has missed a step I think. Firstly you have to actually make a potential gain before you worry about what tax to pay. I think judging by her recent performance she has struggled with the first part of the equation.

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What are they TALKING ABOUT!? Not THAT many pensioners have TWO homes. This is ridiculous! Some people can't get one bloody house as prices are so high - greedy SCUMbags. This is really starting to p!ss me off. They're obviously talking about their own situations!

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Does anyone know how many people actually have a second home? My guess is that is is a very small percentage and even smaller if you exclude wealthy Londeners

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What are they TALKING ABOUT!? Not THAT many pensioners have TWO homes.

Says in the article. 1 in 10.

:rolleyes:

I assume the CGT thing came out of the LibDems? This is the party with "The Land" as their anthem after all, and it doesn't seem very Tory. I heard that and was overjoyed, myself.

I'd like to know the source, as Nick Clegg might have my vote next time.

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Answering my own question

The number of second homes in England rose by 2.6% in 2009 following a contraction in 2008 of -0.4%. This rise, which equated to 6,212 additional second homes, pushed the total to an all-time record of 245,384.

From here. Not sure if this really means 'England' or applies to the UK as a whole

So next question how many 'owner occupied' houses are there?

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I am annoyed by all this winging patronising crap - see the picture in the article, they are obviously trying to gain sympathy as we all now have the image in our heads an elderly lady down to her last few pounds - and therefor we shoud be opposing this change in the tax law. Instead those that are complaining are middle class boomers who are still expecting everything to be done in their interests rather than that of the country.

******** the lot of it. We are not talking about taxing the poor or vunerable here, we are talking about taxing people who I expect are mostly pretty well off (they have a second home after all) and I am sure many have significant pensions coming their way.

The media are totallly missing the point of who exactly is being hard done by from this situation - that is the true hard working British families who are struggling to afford to keep one roof over their head let alone buying up all the other houses and in many cases getting others to pay the mortgages on them. When we get to a situation where both parents 'have' to work to afford even the most modest houses we are in a very sad state of affairs and long term our society is going to suffer (not that there is anything implicitly wrong with both parents working but it should be a choice rather than a necessity to make ends meet)

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Guest sillybear2

Just think of all those poor old ladies struggling to get by, sitting there with a blanket and one bar fire, and having to burn the mortgage statements from their 15 property BTL empires in order to keep warm at night :rolleyes:

PF-pensioner-1_1362935c.jpg

"I'm sure those f****rs have short changed me 20p in rent this week! I'm gonna go all Goldman Sachs on their a$$" - says Aida, 90 from Stepney, she says her father took her out loan sharking from the age of 6, and her uncle Peter Rachman taught her everything she knows about running a good tight slum. She said the Kray Twins may have been twisited, sadistic killers but they always loved their mother, and whilst walking to their next job carrying pickaxes they always had time to talk you on the street whilst they wiped off the blood. She later added she wished they were still around to deal with those "socialist shit diggers" at HM Treasury.

Edited by sillybear2

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Guest sillybear2

Says in the article. 1 in 10.

:rolleyes:

Yup, and those people are so poor they're subject to the 40% or 50% tax brackets.

"However, it has been suggested that the Government will raise this threshold in line with income tax, so that many people will pay 40 per cent, and some will pay 50 per cent tax on their gains. "

Obviously only the poorest of old dears has over £150k of taxable income, and now this? You heartless b@stards!

Edited by sillybear2

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Surely if it's their "pension" they simply hold on to the asset and rent it out for income which would be taxed like everyone else's income. Given that pensioners have a tax free allowance of nearly £10k pa already they'd have to be "earning" over £40k pa (above average) before paying higher rates of tax.

Or did I miss something?

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Recent figures from Aviva suggested that one in 10 people over the age of 55 owned a second home

Total bollock$ of course! Still, if you're going to start an article with a blatant lie, you might as well make it a big one...

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I really wish people would understand the difference here:

People do not get taxed on the equity they build up in a 2nd home. They get taxed on the capital gains. This is generally unearned income, and is normally just pilfering from the pockets of those younger first time buyers who have to take on more and more debt to buy a home.

Even if CGT goes up, the equity you have put into that house is not taxed and is still there. Unless, SHOCK HORROR, the house prices go down. Which of course they never do. Do they...?

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Quote from article:

"Older people will be some of the worst affected by the capital gains tax rise, as it is not uncommon for retirement to be funded by the sale of a second home."

NOT UNCOMMON! Not in my circles! The fact is that it is relatively UNCOMMON - MOST people do not have a second home to sell to fund their retirement.

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Guest sillybear2

Surely if it's their "pension" they simply hold on to the asset and rent it out for income which would be taxed like everyone else's income. Given that pensioners have a tax free allowance of nearly £10k pa already they'd have to be "earning" over £40k pa (above average) before paying higher rates of tax.

Or did I miss something?

Yes, the sound of a million whinging middle-class broadsheet readers with a sense of entitlement second only to the size of their unearned capital gains. The worst thing about this proposal? It's going to fund the £10k allowance for poor people, whatever next? Why don't these people know their place! Everyone knows the fairest course of action is for the Untermensch to do without in order to fund generous tax breaks for the top 10%.

Edited by sillybear2

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Guest sillybear2

A 10k allowance?!!!! How very dare they!

The little people will be wanting pensions next, maybe £100 a week! Why can't they just starve in their caves and die? We should be allowed to hunt peasants and pheasants like the good old days, if they can't outpace a speeding bullet then bad luck, survival of the fittest I say!

Edited by sillybear2

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There's a massive campaign - Torygraph, usual suspects in the City, Venture Capital lobbyists, etc. (City calls CGT legalised theft :blink: was one headline I've just seen!). House of Commons being jammed by mass coordinated lobby -

Join the counter attack - urge Vince NOT TO BUDGE - Tel: 0207 219 1106 (House of Commons).

Contact your local MP.

Don't let the bastards win again!

Edited by gruffydd

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Guest sillybear2

There's a massive campaign - Torygraph, usual suspects in the City (City calls CGT legalised theft :blink: was one headline I've just seen!)

Join the counter attack - urge Vince NOT TO BUDGE - Tel: 0207 219 1106 (House of Commons).

They know all about that of course. <_<

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Guest sillybear2

You really couldn't make it up - I was so angry I punched a nearby wall!

There goes your deposit.

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The little people will be wanting pensions next, maybe £100 a week! Why can't they just starve in their caves and die? We should be allowed to hunt peasants and pheasants like the good old days, if they can't outpace a speeding bullet then bad luck, survival of the fittest I say!

After forcing people off all the land into starvation, the landed classes used to get their 'game' keepers to hide man-traps in the woods and clearings (and set up hidden spring-guns) to catch anyone straying onto their land looking to get something to eat!

Worst era 1770-1825

They would die from crushed, broken legs and gangrene poisoning.

Look up the history of GIN traps!

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  • 259 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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