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See here:

http://yourfreedom.hmg.gov.uk/restoring-civil-liberties/tax-on-foreign-owned-uk-properties

Tax on foreign owned UK properties

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by evesacks on July 07, 2010 at 08:55PM Currently overseas resident individuals can buy and sell UK properties and avoid UK tax.

It is possible for them to avoid stamp duty when they buy them (by using overseas structures) and they are not subject to capital gains tax when they sell even if it is not their main residence.

The tax laws should be changed to:

a) make it impossible to avoid stamp duty on acquisition

B) make the sale of UK real estate subject to CGT even for non residents (like in Australia). If the individual owns no other worldwide property then the principle private exemption could apply.

Why the contribution is important

Because currently there is not a level playing field and rich overseas residents individuals treat the UK like a tax haven and are not subject to tax on transactions that a UK resident would be subject to tax on.

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http://yourfreedom

a) make it impossible to avoid stamp duty on acquisition

I don't mean to imply that you're an idiot...

but it almost sounded as if, in the name of freedom, you are asking that some hateful bureaucrat should charge even more people a small fortune for a stamp. Simply for the right to move house?

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AIUI, this exercise is supposed to be about rolling back red tape and Labour's police state. It is, after all, the Big Issue on which the rank-and-file of both coalition parties (on the whole) agree.

A lot of proposals there don't really fit that agenda, regardless of their actual merits. Can't help thinking a proposal on adjusting an existing tax falls into that category, yesno?

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axation is extortion under threat of incarceration.

the tax man will simply use his position to line his own pockets - same as in any other tax system.

What you say there is like a currant bun. It's a large dollop of nonsense containing a few grains of truth. Edited by blankster

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See here:

http://yourfreedom.hmg.gov.uk/restoring-civil-liberties/tax-on-foreign-owned-uk-properties

Tax on foreign owned UK properties

Info

by evesacks on July 07, 2010 at 08:55PM Currently overseas resident individuals can buy and sell UK properties and avoid UK tax.

It is possible for them to avoid stamp duty when they buy them (by using overseas structures) and they are not subject to capital gains tax when they sell even if it is not their main residence.

The tax laws should be changed to:

a) make it impossible to avoid stamp duty on acquisition

B) make the sale of UK real estate subject to CGT even for non residents (like in Australia). If the individual owns no other worldwide property then the principle private exemption could apply.

Why the contribution is important

Because currently there is not a level playing field and rich overseas residents individuals treat the UK like a tax haven and are not subject to tax on transactions that a UK resident would be subject to tax on.

Happy to support it in principle - why don't you start one here as well: http://petitions.number10.gov.uk/

I think a property tax, say 1% based on last transaction price (or an estimate price if no price info available), adjusted against RPI or the one of the house index (or average of the indices) is far more effective and simple.

Your objective [a] is however difficult to achieve because some of properties are owned by say a Virgin Island company and transaction of the share of the VI company is of course beyond UK remits. Say when Kraft took over CBRY, are we going to go through their books and find out which properties to tax because of change of ownership at parent companies several levels up? Sounds good but can be difficult via [a] - transaction of share in foreign companies/foundation.

Far easier to levy a say 1% property tax and forget the rest.

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Happy to support it in principle - why don't you start one here as well: http://petitions.number10.gov.uk/

I think a property tax, say 1% based on last transaction price (or an estimate price if no price info available), adjusted against RPI or the one of the house index (or average of the indices) is far more effective and simple.

Your objective [a] is however difficult to achieve because some of properties are owned by say a Virgin Island company and transaction of the share of the VI company is of course beyond UK remits. Say when Kraft took over CBRY, are we going to go through their books and find out which properties to tax because of change of ownership at parent companies several levels up? Sounds good but can be difficult via [a] - transaction of share in foreign companies/foundation.

Far easier to levy a say 1% property tax and forget the rest.

What annoys me is that overseas nationals can avoid tax on buying UK properties. They avoid it on buying, they avoid it on selling.

That's what I was getting at.

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Civil Liberties website my ****.

It is a very political Libcon device, masquerading as an HM Government function which aims to give people the illusion of influence.

Presentation, lies, deceit.

The same old.

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Civil Liberties website my ****.

It is a very political Libcon device, masquerading as an HM Government function which aims to give people the illusion of influence.

Presentation, lies, deceit.

The same old.

I know you're a bit bitter from losing your seat, but at least give them a chance to try and restore some of the many freedoms labour shat on.

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AIUI, this exercise is supposed to be about rolling back red tape and Labour's police state.

Raoul moat seems to be doing quite a job on the police state bit.Seems the sort to possibly become the UK equivalent of the washington sniper.

More to come if this genuinely was about having a few financial issues,along with being a bit of a thug in the first place.

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  • 258 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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