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Coordinated assult on Stamp Duty?

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First get everyone in a froth about stamp duty, really ratchet it up. Lots of news stories.

followed swiftly by capital gains on all houses, main residence or not. Grab the olds gains and a higher level than stamp duty costs. 

There's gold in those hills. 

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1 minute ago, jiltedjen said:

First get everyone in a froth about stamp duty, really ratchet it up. Lots of news stories.

followed swiftly by capital gains on all houses, main residence or not. Grab the olds gains and a higher level than stamp duty costs. 
 

But not implemented until some pre-announced point in the future. "Sell! Sell now while you still can!"

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that's a point, would cause a huge surge in sellers who need to sell before their mewing threatens to never allow them to sell (trapping them), would basically make their house worthless to them as a lottery win.

Combined also with a big injection of affordability for buyers without having to pay stamp duty.

anything to get the market moving again. 

would be nice if they did it in banding levels, to really punish the oldies who mewed at the expense of the young, have higher levels for houses bought in the 70's and 80's then taper down to modern day.  
 

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1 hour ago, jiltedjen said:

First get everyone in a froth about stamp duty, really ratchet it up. Lots of news stories.

followed swiftly by capital gains on all houses, main residence or not. Grab the olds gains and a higher level than stamp duty costs. 

There's gold in those hills. 

There is no CG tax for the govt if they dont sell

I just cant see how charging people more in CG tax is a solution to people supposedly not moving because they dont want to pay stamp duty.

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LVT plain simple, best solution for everyone, it will keep people in check with their hoardiness and the wishful thinking of forever HPI.

Don't tax the transaction, tax it along its life time value.

And tax the freeholder, not the leaseholder. 

See easy to fix a broken housing market

Edited by Freki

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33 minutes ago, insertcoinstocontinue said:

Interesting.... personally I would support this. Stamp duty is a pain as it's real cash so if you could delay until you sell then great. Win win as it would force boomers out of their 5 bedroom homes they paid pennies for

OK lets say for the sake of argument im a 65 year old boomer who bought a 4 bed house for 100k in 1995, its now worth 500k.

Why would i want to sell and pay CGT tax, when i can just live in it and pay nothing. Or why is CGT bill going to be so much wonderfully better than a Stamp Duty bill?

 

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Just now, insertcoinstocontinue said:

They would want to sell before law came in one can hope. 

Imo cgt would be better than sdlt as if you don't make a gain you won't have a liability! This ending people deluded view of forever hpi being something to celebrate  

Have you seen how much the govt are raking in with SDLT?

Theyre desperately in need of money, i just cant see anything changing to appease a few hundred thousand boomers in London and the Home Counties.

 

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28 minutes ago, Habitationi Bulla said:

Have you seen how much the govt are raking in with SDLT?

Theyre desperately in need of money, i just cant see anything changing to appease a few hundred thousand boomers in London and the Home Counties.

 

Roughly one months borrowing?

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I actually think swapping stamp duty for capital gains tax could be the next prop that the government use to stop prices falling or even push prices up higher in the short term. If someone is buying a house with an 5% deposit they can effectively leverage the amount they were going to spend on stamp duty by 20 times by increasing that deposit. I also think supply would reduce as people wouldn't want to pay the tax. It may also mean people who bought more recently who are probably going to have higher debt and less capital gains will be replaced by first time buyers who are equally leveraged up.

I do wonder if it would be negative for the smaller properties people downsize to like two bed bungalows etc as less boomers downsize and keep their big house with their paper capital gains but positive for the lower end of the market and also the top end gets propped up by limited supply and massive stamp duty savings on purchases. Maybe in the long term the when the boomers die then their properties will start to hit the market and then these types of properties start to come down in price.

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17 hours ago, Habitationi Bulla said:

There is no CG tax for the govt if they dont sell

I just cant see how charging people more in CG tax is a solution to people supposedly not moving because they dont want to pay stamp duty.

+1

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16 hours ago, Habitationi Bulla said:

OK lets say for the sake of argument im a 65 year old boomer who bought a 4 bed house for 100k in 1995, its now worth 500k.

Why would i want to sell and pay CGT tax, when i can just live in it and pay nothing. Or why is CGT bill going to be so much wonderfully better than a Stamp Duty bill?

 

+1

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20 hours ago, jiltedjen said:

First get everyone in a froth about stamp duty, really ratchet it up. Lots of news stories.

followed swiftly by capital gains on all houses, main residence or not. Grab the olds gains and a higher level than stamp duty costs. 

There's gold in those hills. 

I agree. In the current political situation there is no way the Tories can remove SDLT, as this is will be seen as giving tax break for rich and also Treasury will find it hard with the shortfall. Thier only option now is either LVT which they don't have balls or CGT on all residence, again a vote losing policy.

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