Friday, June 8, 2007

BTL’s are fuelled by 10p in the £ Tax, perks, etc

Tax perks for a few are adding to the property have-nots’ sense of injustice

"The pace of growth in the housing market may have taken longer to slow than all the experts predicted at the beginning of the year." ... "– especially those contemplating more onerous repayments as the super-discounted fixed-rate loan deals taken out in the summer of 2005 expire." ... "Some buyers of these Chelsea mansions are partners in firms in the lucrative private equity sector and thus permitted to pay tax at 10p in the pound on some of their earnings." So how do I get on this gravy train and pay only 10p in the £ on my income Tax. This is one for GB(H).

Posted by fahrenheit451 @ 10:36 AM (433 views)
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2 thoughts on “BTL’s are fuelled by 10p in the £ Tax, perks, etc

  • The big problem is that to the politicians themselves, as wealthy land and property owners, this issue is not on the radar.

    The 1815 Corn Laws were a great example of what happens when parliamentarians’ private interests start dictating their public decisions, as is now becomong the case for property. The import tarriffs on the price of corn were “protections” put in place ostensibly to protect jobs and to maintain prosperity through artificially high corn prices, but the hidden agenda was to maintain parliamentarians’ own power and wealth as absentee landlords on vast plots of arable land which their subsistence-tenant farmers paid tithes.

    Eventually, the Corn Laws were repealed after years of protests and even riots where soldiers actually bayonetted citizens in vain attempts to repress public anger.

    Now we see tax cuts in favour of the elderly property rich, and tax-grabbing from the young to keep property prices high in the guise of maintaining economic stability. How long before the young new-poor take to the streets to be met by the newly-empowered police armed with newly-devised anti-terrorism legislation?

    Hmmm.

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  • “Now we see tax cuts in favour of the elderly property rich”

    No, we don’t. Please take the time to understand taper relief and calm down. It’s not a “now”, it’s not a “tax cut”, it’s not in favour of property owners, it applies to anyone, rich or poor, and has nothing to do with age.

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