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durhamborn

Homeowners and renters should pay tax on imputed rents!!

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The Institute for Economic Affairs think the government should introduce a tax on imputed rents for every property in the UK.Renters,owned outright,mortgaged,the lot.Would it replace council tax?

https://iea.org.uk/publications/taxation-government-spending-and-economic-growth/

Its well known on here how they have used imputed rents to make GDP look better,but havent taxed it in itself.

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I doubt they would be crazy enough to try that, imputed rents is just guessing and would end up in court revealing the whole GDP ponzi fraud.

You can't base a tax system on imputed rents, imputed capital gains, imputed income tax, imputed profits.

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Govs are short of tax revenue.

 

Sorting out the UK is simple.

Anyone not working 38h/week is unemployed and should be paid 60/week dole. No exceptions.

An non UK national buying UK property should be taxed at 10% of the purchase  price. Every year.

UKGOV just needs to  grow some fcking balls.

 

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4 minutes ago, spyguy said:

Govs are short of tax revenue.

 

Sorting out the UK is simple.

Anyone not working 38h/week is unemployed and should be paid 60/week dole. No exceptions.

An non UK national buying UK property should be taxed at 10% of the purchase  price. Every year.

UKGOV just needs to  grow some fcking balls.

 

Maybe president elect trump will be out new bff and tell us how to do it :lol:

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Just now, One-percent said:

Maybe president elect trump will be out new bff and tell us how to do it :lol:

If Trump does one thing positive for the young of the UK itll be raising bond yields.

I, for one, welcome our new Orange, EE model bothering POTUS.

 

 

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4 minutes ago, spyguy said:

If Trump does one thing positive for the young of the UK itll be raising bond yields.

I, for one, welcome our new Orange, EE model bothering POTUS.

 

 

As do I. Wind of change, in the words of Bliar and new labours anthem, things can only get better (I hope)

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7 minutes ago, spyguy said:

If Trump does one thing positive for the young of the UK itll be raising bond yields.

I, for one, welcome our new Orange, EE model bothering POTUS.

 

 

I keep telling people I welcome Trump despite the pain that's about to happen.

The looks I get.

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3 hours ago, durhamborn said:

The Institute for Economic Affairs think the government should introduce a tax on imputed rents for every property in the UK.Renters,owned outright,mortgaged,the lot.Would it replace council tax?

https://iea.org.uk/publications/taxation-government-spending-and-economic-growth/

Its well known on here how they have used imputed rents to make GDP look better,but havent taxed it in itself.

They are basically correct. The absence of such a tax is pretty much what's wrong with the country. 

Of course, tenants already do pay tax on imputed rent called rent, only they pay it to the feudal landlord not the democratic state.

 

Edited by BuyToLeech

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Unfortunately, there is no way this will happen in the uk, too much fear of the electoral consequences. No government has even had the guts to re- evaluate properties for the council tax since it was reintroduced by john major's government over twenty years ago. 

 

 

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44 minutes ago, spyguy said:

If Trump does one thing positive for the young of the UK itll be raising bond yields.

I, for one, welcome our new Orange, EE model bothering POTUS.

 

Amen to that.

Add fuel price inflation and soaring energy costs to that mix and what have you got?

A rather acute episode of stagflation, if I'm not mistaken.

https://www.theguardian.com/money/2016/nov/12/electricity-bills-rise-energy-supply-cuts

Quote

Householders are being warned to brace themselves for a rise in their electricity bills as a series of freak events conspires to send wholesale prices rocketing.

Safety concerns at France’s nuclear power plants operated by the energy company EDF have led to many reactors being temporarily shut down. There have been similar suspensions in Belgium. In addition, a lack of rain in Norway and Sweden – whose hydro plants generate large amounts of electricity for their European neighbours – has limited both countries’ energy production.

The combined effect has been to send the price at which energy companies buy their power through the roof.

Last Monday, a UK energy company buying power on a next-day contract would have paid about £150 a megawatt hour. The average price a year ago was £38.10. For companies that had not agreed forward contracts, the cost has soared to more than £1,000.

Several smaller electricity suppliers have already raised prices or withdrawn competitive tariffs. Energy analysts say it will not be long before the big operators follow if, as looks possible, this winter starts with a protracted cold snap.

An index tracking the price power companies pay for electricity, produced by the consultancy Cornwall Energy, is at its highest since it started in 2012. “It is unusual for there to be significant volumes of outages in the French nuclear fleet, however this is also one of our tightest winters in recent times in terms of extra capacity, which has also influenced how high prices rise,” said Cornwall analyst Tom Edwards.

 

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It's only twenty three years since the tax on the "notional rental value of a property" ie.Rates was replaced by the poll tax, so not a new idea.

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7 hours ago, hotairmail said:

Clearly for 'imputed rents', it would be a tax on the landlord - not the tenant. i.e. it would be a Land Tax in any other name.

 

 

 

This

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2 hours ago, sexton said:

It's only twenty three years since the tax on the "notional rental value of a property" ie.Rates was replaced by the poll tax, so not a new idea.

Rates were much more affordable for most people,something you paid but didnt really hit you hard.Councils back then just did council things of course.Roll forward and council tax is a massive bill for those just above benefit level.The highest in socialist areas of course.NMW workers seeing 10% of their wage go in council tax to pay for Managers who only see 2.0% of theirs go.

Edited by durhamborn

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3 minutes ago, durhamborn said:

Rates were much more affordable for most people,something you paid but didnt really hit you hard.Councils back then just did council things of course.Roll forward and coouncil tax is a massive bill for those just above benefit level.The highest in socialist areas of course.NMW workers seeing 10% of their wage go in council tax to pay for Managers who only see 2.5% of theirs go.

Also rates were paid by landlords, not tenants. It was a £100 per month extra tax for most tenants when council tax came in.

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4 hours ago, durhamborn said:

Rates were much more affordable for most people,something you paid but didnt really hit you hard.Councils back then just did council things of course.Roll forward and council tax is a massive bill for those just above benefit level.The highest in socialist areas of course.NMW workers seeing 10% of their wage go in council tax to pay for Managers who only see 2.0% of theirs go.

I'm old enough to remember when the water rates were included in the rates so there was one less bill than now as well.

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