Realistbear Posted March 12, 2006 Share Posted March 12, 2006 http://portal.telegraph.co.uk/news/main.jh.../12/ixhome.html Home improvers to face a 'wealth tax' By Patrick Hennessy, Political Editor (Filed: 12/03/2006) Home owners who have enjoyed the biggest rises in property prices face much higher council tax bills, says the man leading the Government's review of town hall finance. Sir Michael Lyons said he was studying plans that would see better-off households make a "bigger contribution". Caroline Spelman: 'The cat is well and truly out of the bag' His remarks appear to confirm Tory claims that householders who have improved their homes with extensions - or even those who have a nice view or bigger gardens - face the biggest council tax rises. Caroline Spelman, the shadow local government secretary, said Sir Michael had "let the cat out the bag" about plans for a "crude wealth tax" with his comments, made at Westminster 10 days ago. The Tories have previously expressed concern that the revaluation exercise will mean better-off households in the South-East facing the biggest rises . Moving up even a single council tax band will cost the average householder about £270 extra a year. Someone has to pay for the "Economic Miracle" right? Quote Link to comment Share on other sites More sharing options...
erd Posted March 12, 2006 Share Posted March 12, 2006 The question is: If it is bought in before the next election, would the Torys reverse it or what would they replace it with? Quote Link to comment Share on other sites More sharing options...
mustrum_ridcully Posted March 12, 2006 Share Posted March 12, 2006 This will just help the HPC, so roll on the revaluations, oh wait a minute it won't happen for a good few years, by which time we'll be in the middle of an HPC anyway. Quote Link to comment Share on other sites More sharing options...
BillyShears Posted March 12, 2006 Share Posted March 12, 2006 This will just help the HPC, so roll on the revaluations, oh wait a minute it won't happen for a good few years, by which time we'll be in the middle of an HPC anyway. House price inflation creates 'wealth' that is paper only until someone STRs, downsizes, or moves to a cheaper location. So if this 'wealth' is taxed, that means that the government will be taxing wealth that doesn't actually really exist yet, and may well never actually exist. Billy Shears Quote Link to comment Share on other sites More sharing options...
BoredTrainBuilder Posted March 12, 2006 Share Posted March 12, 2006 (edited) I think this happens in other countries, such as Germany: if you add value to your house you are taxed on it. I think. Edited March 12, 2006 by BoredTrainBuilder Quote Link to comment Share on other sites More sharing options...
BillyShears Posted March 12, 2006 Share Posted March 12, 2006 I think this happens in other countries, such as Germany: if you add value to your house you are taxed on it. I think. But Germany has more stable house prices, so a gain in wealth is less likely to be transitory or an illusion. Billy Shears Quote Link to comment Share on other sites More sharing options...
erd Posted March 12, 2006 Share Posted March 12, 2006 House price inflation creates 'wealth' that is paper only until someone STRs, downsizes, or moves to a cheaper location. So if this 'wealth' is taxed, that means that the government will be taxing wealth that doesn't actually really exist yet, and may well never actually exist. Billy Shears Good point, do you have any wealth if you are 100% mortgaged? Doesn't someone with a small house fully paid off have more wealth, but will be asked to pay less? Maybe it is more of an attempt to force us into the showboxes they want built! Quote Link to comment Share on other sites More sharing options...
mercsl Posted March 12, 2006 Share Posted March 12, 2006 Who cares..will just pass it on to my tenants Quote Link to comment Share on other sites More sharing options...
BillyShears Posted March 12, 2006 Share Posted March 12, 2006 Who cares..will just pass it on to my tenants So what do you do when your tenants go somewhere cheaper and you can't find any new ones? Billy Shears Quote Link to comment Share on other sites More sharing options...
Unexpected Posted March 12, 2006 Share Posted March 12, 2006 Who cares..will just pass it on to my tenants They might just say "sorry but we cant afford it". What will you do then? Quote Link to comment Share on other sites More sharing options...
Smell the Fear Posted March 12, 2006 Share Posted March 12, 2006 Who cares..will just pass it on to my tenants This BS is starting to become the HPC bull mantra. It's wrong, and highlights how these idiots ending up in their current level of debt. A complete economic bypass. Quote Link to comment Share on other sites More sharing options...
Elizabeth Posted March 12, 2006 Share Posted March 12, 2006 They might just say "sorry but we cant afford it". What will you do then? Ahh. The Blair Conundrum I don't believe for a minute they will tax wealth until the Blair's manage to offload their million plus white elephant in Conaught Square. Quote Link to comment Share on other sites More sharing options...
laurejon Posted March 12, 2006 Share Posted March 12, 2006 I have noticed a lot of activity early morning where I live and to my horror I have found that there are selfish people living within my proximity who go to work for a living!!. They even have the brazen audacity to wish to work harder and put a roof over their families heads so their children dont sleep three to a room. I just cannot imagine what has got into these people. Its about time the general public realised that we dont have social services, housing departments, and Local Councils with huge budgets just so people can try to take control of their lives and go to work. Quote Link to comment Share on other sites More sharing options...
Johnny Posted March 12, 2006 Share Posted March 12, 2006 And now there's going to be a proposed "Bed Tax" , Hotels and B&B's to be taxed on the number of beds they have. The tourism industry is going to be hit hard if this goes ahead and to cap it all its to increase the council tax payments. http://www.thisismoney.co.uk/news/article....72&in_page_id=2 Yet another industry bites the dust !!!!! Quote Link to comment Share on other sites More sharing options...
Elizabeth Posted March 12, 2006 Share Posted March 12, 2006 And now there's going to be a proposed "Bed Tax" , Hotels and B&B's to be taxed on the number of beds they have. The tourism industry is going to be hit hard if this goes ahead and to cap it all its to increase the council tax payments. http://www.thisismoney.co.uk/news/article....72&in_page_id=2 Yet another industry bites the dust !!!!! WTF is that about? Surely, like any company they pay tax, and they pay on the divs. That is just crazy. What is the rationale? While thousands of individuals own holiday homes and don't pay full council tax, people who are not in the fortunate position of having a holiday home have to pay a further surcharge for wanting a break from slaving? Well, I guess somebody has to pay for bombing the crap out of Iraqis. And it ain't gonna be the cabinet with their 2nd homes in the country. Quote Link to comment Share on other sites More sharing options...
laurejon Posted March 12, 2006 Share Posted March 12, 2006 So shall I spend 9.99p flying to Paris and staying in a 4* hotel for 30 quid a night. Or shall I pay 200 quid for a train to Clacton and pay 250quid for a room in a B&B with cockroaches for room mates. Quote Link to comment Share on other sites More sharing options...
Elizabeth Posted March 12, 2006 Share Posted March 12, 2006 So shall I spend 9.99p flying to Paris and staying in a 4* hotel for 30 quid a night. Or shall I pay 200 quid for a train to Clacton and pay 250quid for a room in a B&B with cockroaches for room mates. Mate. Is this a rhetorical question or what? Its obvious. Take the cockroaches! "Clacton - the cold carribean of the mid-north" Quote Link to comment Share on other sites More sharing options...
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