Wednesday, April 6, 2011
Tax is for the little people
"Just in case, during the last couple of weeks, the property well-endowed needed reminding that things could be worse on the tax front, the permanently off-message Vince Cable managed to drag the subject of a â€œmansion taxâ€ back into the headlines before the budget had even been digested. Surely he couldnâ€™t be serious. Anyone with even a casual experience of the property market knows that â€“ particularly when volumeâ€™s so low, and especially at the posh end of the market where property prices depend on the right tycoon walking through the door on the right day â€“ the valuation process contains too much hocus pocus to make it a fair basis for annual taxation."