Monday, December 3, 2012

Predictable. Time for a LVT?

SDLT avoidance schemes double

"The March budget’s assault on prime property owners and investors has caused the number of stamp duty avoidance schemes to double this year, according to legal bods Pinsent Masons.Ten schemes, including setting up offshore LLPs as property investment vehicles, have been reported to HMRC since March, compared to just five in the half-year prior to the budget. The overall number of SDLT avoiders has, however, been reduced by the Treasury’s clampdown"

Posted by alan @ 10:33 AM (5708 views)
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3 thoughts on “Predictable. Time for a LVT?

  • mark wadsworth says:

    Yup, while SDLT is vaguely related to land values, it is a million miles from proper LVT.

    Look at it this way: if LVT is like a flat tax on earned income, then SDLT is like making people pay tax equivalent to six or twelve months’ wages every time they change jobs.

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  • So your facing future sovereign meltdown. What do you do?

    That’s ‘right’, maintain the privilege.

    I would like to ‘spread’ the privilege. Believe me.

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  • Mark W,
    You should suggest that idea to the French socialists: if a company wants to fire somebody, they have to pay a severance tax equivalent to 12 months’ worth of income tax. Or something like that. That way nobody will be fired, and everybody will have a job for life (just like everybody in Britain has a home for life).

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