Wednesday, October 19, 2011

Over-60 ‘bedroom blockers’ should be exempt from paying stamp duty to encourage them to leave ‘

Tax break for baby boomers ?

So, baby boomers who have enjoyed massive capital gains for no productive work, are now going to get tax breaks ? What next.

Posted by doomwatch @ 03:47 PM (2505 views)
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23 thoughts on “Over-60 ‘bedroom blockers’ should be exempt from paying stamp duty to encourage them to leave ‘

  • They should be taxing them so they need to move out, that will motivate them.

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  • Stamp duty is paid by the buyer, not the seller, so this is boarlicks. But stamp duty should be scrapped entirely anyway.

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  • Yeah that couple in the picture look like they need a tax break!
    Drewster – I’m guessing they mean on the house they buy next?
    But I agree, scrap Stamp Duty and introduce ramped CGT based on number of houses. Like I said in another thread, introduce those changes now with an implementation date a year or 2 out to get sales going. Who says we need to build more?!?!

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  • mark wadsworth says:

    D, economically, SDLT is borne by the seller, the same as any tax on land and buildings. The legal niceties of this do not affect the economic incidence.

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  • Of course, Mark, but since when has the Daily Mail (let alone its readership) understood the concept of economic incidence?

    timmy – if they’re downsizing then (a) the SDLT on the house they’re buying will be lower, and (b) they’ll have released cash from the larger house they sell which they could then use to pay the SDLT. But it should still be scrapped, it puts people off moving.

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  • mark wadsworth says:

    This whole LVT idea is not catching on, so I have a plan B. The council just starts charging “Pavement & Road Value Tax” instead.

    If you or your visitors want to use the pavement in front of your house, you have to pay a made up figure in £ thousands, else you can stay at home and starve to death.

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  • mw

    we pay road tax now and that is extortion like we have a choice, they only want to keep it so they can track us and pull us over for some greedy, fat, lazy cop to gain points from his chief

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  • Mark W,
    I still think Vince Cable had the right idea with mansion tax. Introduce it at a high level, £1m or £2m or whatever, then let fiscal drag take care of the rest.

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  • @ mark: as far as I know, vehicle owners pay Vehicle Excercise Duty, no road tax. It has to do with the emissions associated with driving, which is probably why pedestrians, horses, and cyclists are all exempt from VED (by law).

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  • Still cannot believe how bad things are in this country that it’s become somehow immoral to live in a house that you’ve paid for that has a spare bedroom or two. Don’t know who started peddling this illogical nonsense, but I know a couple of older people who have had young neighbours making nasty comments to them about ‘bedroom blocking’.
    What IS a disgrace is (a) the lack of building of new houses, (b) selling off of council houses and not replacing them and (c) mass immigration of large families from poor countries. And of course overinflated house prices.

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  • a saver, You will find in most instances it is those who live in the houses with spare bedrooms who are blocking the building of new properties because they do not want you to devalue their castle.

    I think the government are to scared to build new houses incase it disturbs the banks mark to make-believe asset ratio + it will upset voters because you devalue their neighbourhood.

    There is no easy way out. What we need is a new leader who can make a decision without the 6 month enquiry and consultations, someone who works for the good of the majority.

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  • mark wadsworth says:

    Mark: “we pay road tax now and that is extortion like we have a choice”

    Er, there is always an element of compulsion with taxes, if you do X you will pay £Y. The point about land taxes is that all rents are compulsory and collection is backed by the force of the state, and if the state doesn’t collect the ground rent then they will just be collected privately. So replacing income tax with LVT will kill two birds with one stone.

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  • khards,

    I spoke to a local councillor recently. He’s personally in favour of more building – even he can’t get on the housing ladder – but the objections from local people are:
    – “Why change, things have been fine here for years”
    – “We don’t like the idea of poor people living here (referring to an estate of small houses proposed in a neighbourhood of large houses)”
    – “They’ll only fill up with immigrants”
    – “Parking…. (it’s always bloomin’ parking)”

    Opposition is particularly strong to flats and small houses. You stand a better chance of getting a Grand Design approved than an estate of rabbit hutch houses occupying the same amount of land. Fear of new people / poor people / young people / different people seems to be the dominant response.

    There was no mention of central government worrying about bank solvency. I don’t think it has really crossed their minds.

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  • we all know if they replace all taxes with one tax they will still hike it and screw us, why do British people ask how far to bend over and are now even offering the government some lube to help screw us all, i for one am sick of the taxation in this overpriced rip off country

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  • I suppose things are looking more positive on the building side around this area we have a good size development of rabbit hutches which has just started

    400 homes here:

    http://www.secure.dover.gov.uk/planning_online/acollate_docs/86795_96.pdf

    another 36 flats and 4 houses

    http://www.secure.dover.gov.uk/planning_online/acollate_docs/89869_1.pdf

    Another 36 one and two-bedroom flats

    http://www.thisiskent.co.uk/New-affordable-houses-ease-pressure-Dover-waiting/story-12826058-detail/story.html

    These developments are strictly limited in size due to the area of the brownfield sites. This is why all of these homes (of which 440 are under construction) are so small.

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  • khards

    isnt there any green land in dover they can build more on?

    a question – does dover have a lot of issues with foreign wagons parking up everywhere?

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  • Shit loads of land everywhere. I live just outside of Dover after escaping from the shit hole of the town centre.

    A lot of the surrounding land is not used for farming but horsie-culture (Which I think should be subject to planning)

    How much farm land do you want 100,000 good size homes??

    http://maps.google.co.uk/maps?q=dover&ll=51.148502,1.314497&spn=0.028805,0.069008&oe=utf-8&hnear=Dover,+United+Kingdom&gl=uk&t=h&z=14&vpsrc=6

    It’s nice of them to re use the brownfield sites, but as there becomes less and less brownfield sites what do you do? Birth control? Build on fields?

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  • the problem i see with brownfield sites is this

    flats or houses being built on old factory sites near motorways, factories are now being built in greenfield areas as it is cheaper to undertake the construction – this to me is back to front there are a lot of issues with building residential near noisy areas such as motorways or industrial parks and building industrial parks on green land causes the same issues for local residents, there is loads of brown land around the northwest uk yet they seem obsessed with putting grotty 1 bed flats on the sites and building huge industrial parks and distribution centres in the countryside

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  • mark wadsworth says:

    Mark: ” they seem obsessed with putting grotty 1 bed flats on the [ex-industrial] sites and building huge industrial parks and distribution centres in the countryside”

    True, there is an element of this and it is clearly completely mad.

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  • I have never seen a development of nice/luxury houses built on a brownfield site.

    Because it costs a lot of money clearing / sanitizing the site, getting flood surveys, drainage surveys, other surveys done you need to cram as many houses into the site as possible to make a profit. The houses and fats are small compared to the buildings from 50’s to the late 80’s that were build on green field sites.

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  • @13 – please get the nomenclature correct, it’s not rabbit hutches, it’s slave boxes.

    know your place.

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  • just had an auction catalogue through the post – wow it is full of some fantastic properties i would never expect to see up for auction for the mortgagees

    the commercial catalogue has some huge sites up for auction too, i wonder if investors are trying to offload??

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