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Guardian: May to impose levy on foreign house buyers

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Foreigners dont vote.

Goes for dodgy russian oligarh and EE tax creditors.

Faced with needing to get ~10% votes, who are you going to throw under the (tax) bus - a voter or a foreigner?

Stamp duty does not go far enough.

They need to be taxing non tax resident people ~5% on any property held i nthe UK.

And they need to sort out property register - no property to be held by opaque trusts in dodgy offshore jurisdictions.

 

 

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45 minutes ago, Horseradish said:

Came to post the same. It's time to blame it on the foreigners, I guess. Roll on the interest rate increases to show the real cause.

No, there is a valid case for this.

There are lots of dodgy foriegners stashing cash via property in the UK. Needs stoping, failing stopping it needs taxing.

There's no reason to accomodate/help non tax paying property owners.

 

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9 minutes ago, rantnrave said:

1% after consutation.  Pathetic. M eans it wont come in for 2 years and then is a token gesture.

 

 

 

 

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1 hour ago, spyguy said:

They need to be taxing non tax resident people ~5% on any property held i nthe UK.

And they need to sort out property register - no property to be held by opaque trusts in dodgy offshore jurisdictions.

It looks to me as though any punitive taxation would be easy to evade though.  Non-permanent resident individuals could set up UK-resident companies to buy property.

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1 hour ago, GreenDevil said:

1% after consutation.  Pathetic. M eans it wont come in for 2 years and then is a token gesture.

It's a con for the conference. Something designed to generate headlines while doing absolutely nothing to tackle the problem. 

The idea the Tories would do anything to reduce house prices (meaning their personal wealth would decrease)? A fantasy. Never going to happen. 

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43 minutes ago, Will! said:

It looks to me as though any punitive taxation would be easy to evade though.  Non-permanent resident individuals could set up UK-resident companies to buy property.

Is there or should there be a tax on property bought by a UK company? Personal and commercial?

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1 hour ago, spyguy said:

Foreigners dont vote.

Goes for dodgy russian oligarh and EE tax creditors.

Faced with needing to get ~10% votes, who are you going to throw under the (tax) bus - a voter or a foreigner?

Stamp duty does not go far enough.

They need to be taxing non tax resident people ~5% on any property held i nthe UK.

And they need to sort out property register - no property to be held by opaque trusts in dodgy offshore jurisdictions.

 

 

Totally agree. At the very least they need to insist that foreign property owners pay at least as much tax on UK-held property as they would if resident in the UK. 

No dodging CGT by shuffling off to Malta etc

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The Tories think people are stupid. Oh well, the longer they put off real change the more renters are going to be forced to vote for the extreme option (Labour). 

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2 hours ago, spyguy said:

Foreigners dont vote.

Goes for dodgy russian oligarh and EE tax creditors.

Faced with needing to get ~10% votes, who are you going to throw under the (tax) bus - a voter or a foreigner?

Stamp duty does not go far enough.

They need to be taxing non tax resident people ~5% on any property held i nthe UK.

And they need to sort out property register - no property to be held by opaque trusts in dodgy offshore jurisdictions.

 

 

http://www.private-eye.co.uk/registry

Please check the link above.

I would set 1% per annum tax on all UK registered residential property, and 5% P.A on all foreign owned residential property.

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Plenty of places across the globe where foreigners can't buy residential property full stop. If we are going to allow it tax it hugely imo. 10%+.

Just what exact benefit to this country  does it actually bring ? :blink:

There are places on the planet where it can be a benefit - but I really can't see how the UK is one. 

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6 hours ago, spyguy said:

Foreigners dont vote.

Goes for dodgy russian oligarh and EE tax creditors.

Faced with needing to get ~10% votes, who are you going to throw under the (tax) bus - a voter or a foreigner?

Stamp duty does not go far enough.

They need to be taxing non tax resident people ~5% on any property held i nthe UK.

And they need to sort out property register - no property to be held by opaque trusts in dodgy offshore jurisdictions.

 

 

This. 

Although lots of Tory donors are foreigners or non-doms so it’s been tricky for them in the past. But it’s all getting a bit existential now and they know it. Also who else are the oligarchs and non-doms going to donate to, Corbyn? I don’t think so. 

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I can no longer vote tory if they continue to fiddle around the edges of the housing crisis. Time is running out for me, and I feel as though I've completely slipped through the net. I have worked hard, am a single parent (although son is now almost an adult). Never been out of work/on benefits. I have a good job. I see loads of empty homes around me; they're almost exclusively BTLs between tenants. Private rents are extortionate and have been for years. But that's hardly surprising when it is cheaper to buy IO with interest rates so ridiculously low. 

I am completely and totally disillusioned. I even delivered leaflets for my local tory MP in 2010 as I was so desperate for change. For the record, I cannot bring myself to vote for Corbyn and his hard-left crohnies either.

I thought Theresa was going to take personal responsibility for solving the housing crisis. All we've seen is more of the same.

Really fuxxed off with everything right now. 

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45 minutes ago, ccc said:

Just what exact benefit to this country  does it actually bring ? :blink:

All about Britain being “open for business”, attracting “the brightest and the best” etc.

The argument was that rich people would come here and bring their business acumen, invest in the UK, and spend lots of money in the shops.

Remember Mandelson saying “I’ve got no problem with people getting absolutely filthy rich”? That seems like 100 years ago now. 

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36 minutes ago, oatbake said:

I can no longer vote tory if they continue to fiddle around the edges of the housing crisis. Time is running out for me, and I feel as though I've completely slipped through the net. I have worked hard, am a single parent (although son is now almost an adult). Never been out of work/on benefits. I have a good job. I see loads of empty homes around me; they're almost exclusively BTLs between tenants. Private rents are extortionate and have been for years. But that's hardly surprising when it is cheaper to buy IO with interest rates so ridiculously low. 

I am completely and totally disillusioned. I even delivered leaflets for my local tory MP in 2010 as I was so desperate for change. For the record, I cannot bring myself to vote for Corbyn and his hard-left crohnies either.

I thought Theresa was going to take personal responsibility for solving the housing crisis. All we've seen is more of the same.

Really fuxxed off with everything right now. 

To be fair, they have been a bit distracted by tearing themselves a new arsehole over brexit these past couple of years. 

But, yeah. I can’t actually imagine what it must be like to be a tory voter who is not wealthy right now. 

Time was when the Conservatives would speak up for those who worked hard and wanted to take personal responsibility for getting on in life. No more. Unless you’re a spiv BTLer, old enough to be on the right side of the housing divide, or wealthy enough for it not to be an issue, there really isn’t anything they can offer you right now. 

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1 hour ago, ccc said:

Plenty of places across the globe where foreigners can't buy residential property full stop. If we are going to allow it tax it hugely imo. 10%+.

Just what exact benefit to this country  does it actually bring ? :blink:

There are places on the planet where it can be a benefit - but I really can't see how the UK is one. 

Haven't you heard..? The munificence of the wealthy showers us proles with crumbs from their table, in the form of lots of low-paid, low-skill service/retail jobs to keep them served whilst buying stuff which has the union flag on its label but is now made in Bangladesh and China.

Tory financial/social planning 101 just completed for you there.

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How about an annual non resident tax based on value of said property/s.......many countries already do this, why do non residents pay less tax than working residents?😉

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1 hour ago, oatbake said:

I can no longer vote tory if they continue to fiddle around the edges of the housing crisis. Time is running out for me, and I feel as though I've completely slipped through the net. I have worked hard, am a single parent (although son is now almost an adult). Never been out of work/on benefits. I have a good job. I see loads of empty homes around me; they're almost exclusively BTLs between tenants. Private rents are extortionate and have been for years. But that's hardly surprising when it is cheaper to buy IO with interest rates so ridiculously low. 

I am completely and totally disillusioned. I even delivered leaflets for my local tory MP in 2010 as I was so desperate for change. For the record, I cannot bring myself to vote for Corbyn and his hard-left crohnies either.

I thought Theresa was going to take personal responsibility for solving the housing crisis. All we've seen is more of the same.

Really fuxxed off with everything right now. 

She is actually known as being a big NIMBY internally within the conservative party, and has fought off attempts by Javid and others to make changes.   So the chance of her offering fixes on the issue of housing is about zero.

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Wow, I'm so underwhelmed ™️🐑.

 

1 hour ago, oatbake said:

...I cannot bring myself to vote for Corbyn and his hard-left crohnies either.

Nothing hard about it, fear and propaganda.

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These tax changes really don't work to influence behaviour if they are so badly presented.

The use of foreign on this thread is entirely bogus. Levys are based on residence and will apply to non-resident Brits on the costa del crime but not to resident foreigners [rightly IMO].

Meanwhile on the indy, this load of incorrect nonsense.
"The existing surcharges, on second homes and buy-to-lets, are three per cent (homes below £125,000), 5 per cent (£125,000 to £250,000), 8 per cent (up to £925,000), 13 per cent (up to £1.5m) and 15 per cent (above £1.5m)."

Can they no longer aford professional journalists or are UK professionals now all utterly useless?

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  • 261 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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