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just heard briefly on the radio that the budget will contain plans for tax on empty homes which would raise £4bn. Any know of the details of this? Not noticed it discussed here before.

If true this could add to the cgt (hopefully) firesale.

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just heard briefly on the radio that the budget will contain plans for tax on empty homes which would raise £4bn. Any know of the details of this? Not noticed it discussed here before.

If true this could add to the cgt (hopefully) firesale.

Youtube doesn't appear to contain a video of Ronnie Raygun's "you can run, but you can't hide" quote, which is a shame

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Great news if true - would really like to see any details on this if true - what's the definition of empty, etc. Of course it might just be the removal of the Council tax discount for non-primary residence, but even that would be a good start...

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Great news if true - would really like to see any details on this if true - what's the definition of empty, etc. Of course it might just be the removal of the Council tax discount for non-primary residence, but even that would be a good start...

Yeah I would like some confirmation. I heard them running through a few things to be announced tomorrow and they said 'a tax on empty homes raising £4bn' I'll try and get it on listen again. It was on BBC radio two. I think during the 3 o'clock news.

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just heard briefly on the radio that the budget will contain plans for tax on empty homes which would raise £4bn. Any know of the details of this? Not noticed it discussed here before.

If true this could add to the cgt (hopefully) firesale.

Fantastic news if it's true, i'm really looking forward to this budget tomorrow! :D

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I don't really believe that this would be 'sneaked through' with no warning?

£4bn is fairly serious cash... assuming a million empty homes that would be £4k per home per empty home, i.e. a really big deal to the owners affected?

I would laugh if true though. Empty homes are such a terrible waste. If one assumes that the value in use p.a. of a home is equal to, say, 5% of its market value, then a million empty homes would create a pure waste of [assuming a market value of 200 grand per home] some £10bn a year...

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just heard briefly on the radio that the budget will contain plans for tax on empty homes which would raise £4bn. Any know of the details of this? Not noticed it discussed here before.

If true this could add to the cgt (hopefully) firesale.

OOOOOOOOOOOOooooooooooooo please mister!!!!!!!!!!!!!!!!!!!!

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£4bn is fairly serious cash... assuming a million empty homes that would be £4k per home per empty home, i.e. a really big deal to the owners affected?

It sounds unlikely if you just include "empty" homes.

Second homes and "holiday rentals" probably aren't included in that 1 million, so in fact if you add all those in, it could be possible.

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It sounds unlikely if you just include "empty" homes.

Second homes and "holiday rentals" probably aren't included in that 1 million, so in fact if you add all those in, it could be possible.

A couple-of-grand-a-year levy on mostly empty second/holiday homes would be too beautiful for words.

I just don't see it in this budget though. The news would have leaked and the squeals would have been audible from Mars.

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Removing the discount for second homes would raise about £150 million (Indy Article assuming 224,000 second homes and an average council tax of £1400 (i.e. currently paying £700 at the discounted rate).

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Excellent idea

If you want to speculate with a resource you have to contribute to society for taking it out of circulation.

We either have a property crisis or we do not?

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I don't really believe that this would be 'sneaked through' with no warning?

£4bn is fairly serious cash... assuming a million empty homes that would be £4k per home per empty home, i.e. a really big deal to the owners affected?

I would laugh if true though. Empty homes are such a terrible waste. If one assumes that the value in use p.a. of a home is equal to, say, 5% of its market value, then a million empty homes would create a pure waste of [assuming a market value of 200 grand per home] some £10bn a year...

Tax empty homes would force many to be sold, thus getting CGT. :)

The CGT could be substantial

Edited by Papa Serf

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Removing the discount for second homes would raise about £150 million (Indy Article assuming 224,000 second homes and an average council tax of £1400 (i.e. currently paying £700 at the discounted rate).

The problem is there is probably a much larger number of people who, due to work commitments, have a second home that is RENTED.

It is awfully unfair to take the 50% discount away from them, but you can't positively discriminate in this case.

tim

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Guest sillybear2

just heard briefly on the radio that the budget will contain plans for tax on empty homes which would raise £4bn. Any know of the details of this? Not noticed it discussed here before.

If true this could add to the cgt (hopefully) firesale.

They'll probably just abolish the 50% council tax discount for empty/second homes.

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They'll probably just abolish the 50% council tax discount for empty/second homes.

plausible i suppose.

this would be an excellent idea.

whilst reasons for the discount [principally that a second homeowner imposes fewer costs on a council than a year-round occupant by not needing their bins emptied as often & so on] are grounded in at least some common sense [unlike the literally unfathomable mortgage interest tax relief for BTL], it does seem 'unfair' that second homeowners don't, in a sense, fully pay their way within a community...

i could imagine a lot of first-wave boomers born in the 40s & 50s with nice little [almost perpetually empty] seaside cottages & flats being extremely displeased by such a measure :P

Edited by the flying pig

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£4bn is fairly serious cash... assuming a million empty homes that would be £4k per home per empty home, i.e. a really big deal to the owners affected?

It seems to be that they are going to be very keen on taxing things that people can just avoid by not admitting to it. How are they going to tell houses are empty exactly?

Is this the Liberals influence coming through?

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Guest sillybear2

plausible i suppose.

this would be an excellent idea.

whilst reasons for the discount [principally that a second homeowner imposes fewer costs on a council than a year-round occupant by not needing their bins emptied as often & so on] are grounded in at least some common sense [unlike the literally unfathomable mortgage interest tax relief for BTL], it does seem 'unfair' that second homeowners don't, in a sense, fully pay their way within a community...

i could imagine a lot of first-wave boomers born in the 40s & 50s with nice little [almost perpetually empty] seaside cottages & flats being extremely displeased by such a measure :P

Which is precisely why it probably won't ever happen, I believe it when I see it.

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It seems to be that they are going to be very keen on taxing things that people can just avoid by not admitting to it. How are they going to tell houses are empty exactly?

Is this the Liberals influence coming through?

well, the abolition of the second home council tax discount as suggested earlier on the thread would do it very neatly... it wuold even save some money on staff processing applications for discounts... the rule would simply be that all houses attract full council tax... just impossible to get out of.

Edited by the flying pig

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well, the abolition of the second home council tax discount as suggested earlier on the thread would do it very neatly... it wuold even save some money on staff processing applications for discounts... the rule would simply be that all houses attract full council tax... just impossible to get out of.

Somebody already said it would only raise "about £150 million" so it cant be that. If you can afford a second home a extra few hundred quid a year isnt going to bother you too much. Now £4k a year might be more annoying, but again how are they going to know.

Edited by Johnny Storm

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Never really understood the reason for 50% council tax discount on second homes. If you can afford a second home then you can afford the tax and it simplifies the tax collect so reducing the admin cost of the tax....

I would imagine its something to do with not actually using the services the tax pays for? A radical idea I know.

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Guest sillybear2

Never really understood the reason for 50% council tax discount on second homes. If you can afford a second home then you can afford the tax and it simplifies the tax collect so reducing the admin cost of the tax....

It also undermines the tax base and drives up the per household costs for genuine residents living in an area, a lot of expenses are fixed costs, street lighting and road repairs still have to be carried out regardless if a given home is empty or not, same for running a dustbin lorry down a street every week.

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Never really understood the reason for 50% council tax discount on second homes. If you can afford a second home then you can afford the tax and it simplifies the tax collect so reducing the admin cost of the tax....

...VIs passed the law...wonder which Government...?.... :rolleyes:

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I would imagine its something to do with not actually using the services the tax pays for? A radical idea I know.

Empty homes create more demand for the services. Ok they don't use the library and schools but they need more police and fire brigade time.

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  • 140 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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