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16 minutes ago, GregBowman said:

Rumour has it 5% wealth tax on everything you own - you heard it here first - including pensions 

Good timing after the stock market recovery.

Bet they exclude your first residential property. Betya. 

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10 minutes ago, longgone said:

What if own nothing but debt.

How about we place a special tax for once on people who have lots of debts - instead of prudent savers.

You could call it a debt tax!

I presume housing will be exempt from any wealth tax - Rishi and Mr Jenrick have several as do many Cabinet members.

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Said it may times, if had to tax something the time has come to tax wealth.....done enough taxing of income and spending....makes people reluctant to work and spend, something that we need at the moment.?

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3 minutes ago, Si1 said:

Good timing after the stock market recovery.

Bet they exclude your first residential property. Betya. 

There is always the issue of liquidity of course...

Granny been living in her family home since 1066, pennyless aside from her beloved home and the ashes urn of dear Fred. Forced to flash sale at a loss in auction to pay a tax.. now homeless.

Not a good daily mail read for a tory government. 

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Just now, captainb said:

There is always the issue of liquidity of course...

Granny been living in her family home since 1066, pennyless aside from her beloved home and the ashes urn of dear Fred. Forced to flash sale at a loss in auction to pay a tax.. now homeless.

Not a good daily mail read for a tory government. 

My thoughts.

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3 minutes ago, Drummer said:

It's w/c 6th July, so likely to be announced on the Wednesday (the 8th)

I'd guess corporation tax up, higher rate tax up and CGT up.

 

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5 minutes ago, Drummer said:

It's w/c 6th July, so likely to be announced on the Wednesday (the 8th)

I'd guess corporation tax up, higher rate tax up and CGT up.

CGT same rates as income taxes would do nicely.

Exemption for primary residence of course...

But the BTL brigade.... oh dear.

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Just now, Bruce Banner said:

Is there no end to what this left, right, flip flop government would do?

Thank heaven it's only a rumour.

I genuinely think this shower of a government, wakes up, reads the tabloid press and screams "WE MUST REACT" then creates a policy ignoring anything and everything... then goes to bed. Wakes up and repeats.

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4 minutes ago, Bruce Banner said:

Is there no end to what this left, right, flip flop government would do?

Thank heaven it's only a rumour.

Governments have pretty much been moving in this turgid reactive direction since about 2001, completely beholden to events and vote buying. It took Thatcher to break the cycle last time I believe.

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32 minutes ago, Si1 said:

Good timing after the stock market recovery.

Bet they exclude your first residential property. Betya. 

5% wealth tax sounds reasonable to pay for this mess.

However, anyone not in liquid assets (so for example BTL'ers) is going to be in a tough position if this happens.

 

 

Edited by Gigantic Purple Slug
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  • 417 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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