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New Stamp Duty Threshold!

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With the upcoming "Emergency Budget", ( it's not like we hadn't seen it coming!), the country appears to be in universal uproar after being told that it has to stop spending more money than it is earning! There are some interesting predictions in the mainstream media including: 20% VAT in line with other European countries and taking away Child Benefit from those who are too rich to need it but too tight to pay pay for a good accountant to hide the fact!

These aside what else can we expect, I'm hoping for a completely self serving lower Stamp Duty Threshold to come at £235,000! lol, any other ideas or predictions, not necessarily realistic?

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With the upcoming "Emergency Budget", ( it's not like we hadn't seen it coming!), the country appears to be in universal uproar after being told that it has to stop spending more money than it is earning! There are some interesting predictions in the mainstream media including: 20% VAT in line with other European countries and taking away Child Benefit from those who are too rich to need it but too tight to pay pay for a good accountant to hide the fact!

These aside what else can we expect, I'm hoping for a completely self serving lower Stamp Duty Threshold to come at £235,000! lol, any other ideas or predictions, not necessarily realistic?

I'd prefer to see stamp duty on a % basis - like income tax. A duty free allowance, then a low % band, etc. A second home for taxation purposes could be calculated as continuing on from previous allowances and low duty rates. Thus anyone wealthy enough to own multiple properties would pay more.

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I'd prefer to see stamp duty on a % basis - like income tax. A duty free allowance, then a low % band, etc. A second home for taxation purposes could be calculated as continuing on from previous allowances and low duty rates. Thus anyone wealthy enough to own multiple properties would pay more.

Get rid of thresholds altogether and replace them with a function that changes smoothly; the current "stair-step" system distorts prices around the threshold points for no good reason.

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It's so simple really.

Put a flat 10% tax on any income over £1,000,000.

Put a 4% levy on any property transaction; EDIT - including conveyancing and legal services, mortgaging, surveying and listing.

Create a 20% exit tax for all you expats leaving the realm.

Edited by cashinmattress

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This budget should give us an insight into what's in store for the next few years, I think it will be interesting to see how much is influenced by Lib-Dem previously declared policies or whether they have been brushed aside due to the unforeseen depth of the economic mess we are in.

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I think there should be a 3% sales tax paid by the seller on all property sales (of any value) and get rid of stamp duty.

Also the idea that a landlord earns money from rent for doing nothing and then doesn't pay any tax on it (by having a 100% mortgage to offset it against) while the workers have to actually get out of bed every day to go to work, to earn the money that is then taxed, the vast remainder then handed over to aforementioned landlord in rent is a joke, so THAT has to go.

CGT should be raised to 40% on second homes starting from April 2011 with a CGT amnesty of 10% from now until then to allow investors time to shift their assets. CGT on shares should be set at half this at 20%. This will discourage investing in property, which causes houses bubbles and is the root cause of this and almost every recession and simply transfers wealth from hard workers to Landlords for doing nothing both directly as rent and indirectly tax->housing benefits->Landlords. This will encourage investing in shares that boosts business and the private sector that generates all the revenue in the first place. It's so simple it's scary it's not been done yesterday.

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I think there should be a 3% sales tax paid by the seller on all property sales (of any value) and get rid of stamp duty.

Also the idea that a landlord earns money from rent for doing nothing and then doesn't pay any tax on it (by having a 100% mortgage to offset it against) while the workers have to actually get out of bed every day to go to work, to earn the money that is then taxed, the vast remainder then handed over to aforementioned landlord in rent is a joke, so THAT has to go.

CGT should be raised to 40% on second homes starting from April 2011 with a CGT amnesty of 10% from now until then to allow investors time to shift their assets. CGT on shares should be set at half this at 20%. This will discourage investing in property, which causes houses bubbles and is the root cause of this and almost every recession and simply transfers wealth from hard workers to Landlords for doing nothing both directly as rent and indirectly tax->housing benefits->Landlords. This will encourage investing in shares that boosts business and the private sector that generates all the revenue in the first place. It's so simple it's scary it's not been done yesterday.

The easiest way is to go back to council housing.

After they have been paid off, the money is recycled within the local tax area (at a profit) keeping council taxes lower!

There is a constant supply of local housing for those who choose to get out of private renting which kills off all the BTL speculators income.

It provides constant, Local jobs for Local tradesmen!

If the poor/a.n.other are thrown out of work, any housing benefits/council tax rebates are merely transfered between departments within the local council - not given to banks or private landlords!

The biggest benefit is it would keep house prices reasonably stable, as there is no mad rush/competition to get into buying a roof over your head - at any cost.

Just like - IT USED TO BE, before the 'Thatcher' sell-offs for the political cronies to benefit from etc

They should be forced to sell them back for what they paid for them!

Edited by erranta

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Wish List

1. Removal of PPR on main homes. All gains on property should be subject to CGT

2. CGT rate to revert back to old system of income rate with taper relief

3. Stamp duty to be restructed so that you pay 1% on first £250k then 2% on the next £150k rather than the higher band applying to the whole purchase price

4. A new tax created called the 'Labour Tax' this is a flat rate of 5% on income to apply to everyone. It should serve as a reminder of why we are in this mess

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  • 145 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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