Wednesday, Nov 25, 2015

Squeeze those evil property tycoons

BBC: Autumn Statement: Buy-to-let homes face higher stamp duty

I think they had got the air quotes in the wrong place. Maybe it should read.
Priced out tenants reacted jubilently to the change, saying it would choke off "investment" in rented properties.
After all most of the "investment" comes from their savings deposits in the banks and building societies.

Posted by tenyearstogetmymoneyback @ 08:27 PM (4265 views)
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3 Comments

1. libertas said...

What happens if you buy to live and then later decide to rent it out?

The tax also applies to second homes.

Thursday, November 26, 2015 10:18AM Report Comment
 

2. mombers said...

@1 You've identified one of the many problems with this. What if you buy a second home but promise that you'll sell your current one but then don't? Retroactive SDLT? Can you and your spouse have homes in your own names? Transaction taxes are terrible...

Thursday, November 26, 2015 12:58PM Report Comment
 

3. righttoleech said...

Poor house collecting vermin.....shit happens

Saturday, November 28, 2015 01:49PM Report Comment
 

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