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40% On Sale Of Main Home


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Would like to hear opinions regarding the "accusation" made that Gordon Brown is intending to introduce a 40% CGT in main homes after the election

Please note that I said accusation in inverted commas.

It not an accusation as such. I just cant find a better word to describe it

*I am assuming that everybody heard about this. - except me which I just did - Hence I dont give further details

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Guest consa
Would like to hear opinions regarding the "accusation" made that Gordon Brown is intending to introduce a 40% CGT in main homes after the election

*I am assuming that everybody heard about this. - except me which I just did - Hence I dont give further details

Yes it's true!!, 40% will become payable on any profit you make on your main residence.

This will plug the black hole.

Good news :)

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Guest prudence
Would like to hear opinions regarding the "accusation" made that Gordon Brown is intending to introduce a 40% CGT in main homes after the election

*I am assuming that everybody heard about this. - except me which I just did - Hence I dont give further details

My gut reaction is that no government would dare to impose cgt (certainly not at 40 percent) on the sale of primary residences because of the electoral fall-out - but of course I might be wrong. Presumably with tapered relief the tax would be much less after, say 10 years of o\o. Is that correct?

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Would like to hear opinions regarding the "accusation" made that Gordon Brown is intending to introduce a 40% CGT in main homes after the election

It will not happen in the next parliament if ever.

They know that HPs will fall and a tax on PPRs would drive them away for a generation.

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I guess you mean that the accusation has made.

As this would be electoral suicide for any party I don't see it coming in... though taper relief would probably ameliorate the effect for many.

As a single step this would crash the market as it would remove a large amount of capital from moving up the chain.

It won't happen... not in this generation.

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I heard you had to give Brown a comfy chair, a lemon ice-cream maker and the use of your wife and teenage daughter on weekends also if you sold a house?

Yes, but at least the wife's recipe for ratatouille is safe. Phew! :D

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Whilst CGT would be a good tool to stop house price inflation, it would be working on the basis that no houses ever get sold.

Who on earth would be able to sell up, and pay 40%CGT and then purchase another house, it would be an impossible task.

Imagine Sold for 300K purchased for 200K

CGT applied at 40% so 40,000 to pay leaving only 60k to purchase the next property.

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If this was to happen imagine the rush to sell before the cut off date !

You could put in even lower offers leading up to the date knowing that the owner might as well accept or hand the money over to Gordon.

I hope they bring it in and impose it retrospectively to cover the last 3 years :D

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Whilst CGT would be a good tool to stop house price inflation, it would be working on the basis that no houses ever get sold.

Who on earth would be able to sell up, and pay 40%CGT and then purchase another house, it would be an impossible task.

Imagine  Sold for 300K purchased for 200K

CGT applied at 40% so 40,000 to pay leaving only 60k to purchase the next property.

buyers managed it before in 2002 without expecting MASSIVE profits just becasue you happen to move house.

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buyers managed it before in 2002 without expecting MASSIVE profits just becasue you happen to move house

Its only a profit if you are not buying another property.

I cant see any party ever bringing this in, the house owners are the majority in this country and as a democracy it would be political suicide for the party that introduced such a crazy scheme.

To get house prices at affordable levels the Government should build some social houses on cheap land, such as waste infil sites, and then offer part ownership schemes. This would allow many FTB'ers to indulge in the joy of owning a property, without having to take on the full risks attached to home ownership.

Look upon it as a growing up experience, gradually working their way into the full membership of society.

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If John Prescot starts selling his portfollio of five propertie's and Tony Blair starts offloading his investment propertie's then CGT may well be on there minds!

Before people get rightious about unearned money, what about inheritance, is that fair, or being helped by family money, is that fair. All men are born equal(not), the wealthy enslave the poor, they have an advantage from day one but they ain't bl**dy worked for it.

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If John Prescot starts selling his portfollio of five propertie's and Tony Blair starts offloading his investment propertie's then CGT may well be on there minds!

Before people get rightious about unearned money, what about inheritance, is that fair, or being helped by family money, is that fair.  All men are born equal(not), the wealthy enslave the poor, they have an advantage from day one but they ain't bl**dy worked for it.

at least inheritance was earned at some point by ancestors.

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at least inheritance was earned at some point by ancestors.

Do you think the queens ancestors worked for her wealth then or just nicked it cause they could!

I'm not a socialist you know, I just think a lot of people are being taken for a ride cause they won't fight for themselves. The reason I fear for people so much is bacause I have seen what happens to people in other countries, I know how bad it can get. The financial institutions run this country for themselves, you can see the government even struggles with them.

The housing situation is the biggest issue of the day, it will unravel and the financial system with it - it could be mayhem I have seen it in Argentina my friend it can and probably will happen!.

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Look upon it as a growing up experience, gradually working their way into the full membership of society.

Typical bloody Tory speak. One is only a full member of society if they own a home. What tripe. :rolleyes:

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the wealthy enslave the poor

Not true

The wealthy provide jobs for the poor.

Without the wealthy jobs would not exist.

The poor are very often poor by their own actions. (I am talking about life in the UK here).

There are jobs in the UK today that put a roof over your head, and food on the table, that is the basic requirements of a life. Anything else is a luxury, and luxuries only come to those who work for them.

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Not true

The wealthy provide jobs for the poor.

Without the wealthy jobs would not exist.

The poor are very often poor by their own actions. (I am talking about life in the UK here).

There are jobs in the UK today that put a roof over your head, and food on the table, that is the basic requirements of a life. Anything else is a luxury, and luxuries only come to those who work for them.

You are correct Laurejon but you are looking at it the wrong way. It is not a class thing but a money thing. Let me explain.

If you are wealthy you can consume, it is that consumption that creates work for the less wealthy. The work done by the less wealthy is of no direct benefit to them but the money they earn allows them to consume creating more work for others.

It is not the money earned that is important to society but the work done. The money earned to the individual can be considered compensation for "work done for others" and should allow the individual to enslave others by spending it.

Its controlled slavery. Uncontrolled slavery is when people are forced to work for very little pay "aggressive competition" the work they do is of no direct benefit to them and they recieve little compensation. They can not propell the economy along they have no spending power and no power over there employers.

Your belief that the basic requirements of life are what the masses should be happy with baffles me, 'lets not go there'.

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Look upon it as a growing up experience, gradually working their way into the full membership of society.

But that's a nonsense because you can only gain the money needed to trade your way up the ladder by property prices constantly going up the way (unless you honestly think people can put together £20-£40K every couple of years out of their salaries).

If prices constantly go up the way then by definition you either need a big gap right at the bottom or increasingly crappier houses at the bottom. It's simply not possible for either to continuously occur.

What we need is a property market which works from an affordable multiple and simply rises with inflation. What we don't need is a market where you have to rely on capital appreciation to make the upward move since the speculators will always come into such a market an upset the dynamics.

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Imagine zero inflation

You would buy at say 25 and be finished at 50 on a 25yr mortgage, however most people after ten years trade up, so at 35 you trade up and you are sixty when its paid off.

With inflation, you buy at 25 when you earn say 500 quid a week, however in ten years you are earning 1000 per week, yet your mortgage payments are the same.

You therefore spend much less as a percentage of take home pay on your mortgage, now this is where the renters are missing out.

My first mortage, 24k I have forgotten how much it was a month but I think something like 200 quid, now today 200 quid is less than half a days pay so I'm quids in. (Or would have been if I had kept it, which I did not).

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One is only a full member of society if they own a home. What tripe

No, you're only 'a full member of society' if you've borrowed 400k on a mortgage and are hoping for inflation to screw the lender.

With inflation, you buy at 25 when you earn say 500 quid a week, however in ten years you are earning 1000 per week, yet your mortgage payments are the same.

You know, for a supposed Tory, you really do seem to expect to get a lot for nothing.

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You know, for a supposed Tory, you really do seem to expect to get a lot for nothing

My figures are based on Labour winning the next election.

Under labour I will see my wages double in ten years, its called inflation, real inflation something Labour have historically been very good at generating, in fact its one of the cornerstones of their masterplan.

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Under labour I will see my wages double in ten years, its called inflation, real inflation something Labour have historically been very good at generating, in fact its one of the cornerstones of their masterplan.

When ARE YOU going to wake up? We have RPI of 3.2% and it sbeen around that for nine years. Oh BTW the MPC is required to keep it around that level for ever! (2% CPI is the same as RPI at 3- 3.5%, as you ought to well know!

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  • 439 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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