The Conservative Party

Brewster's millions said:
You’re wrong, on a number of levels.

Firstly, the primary residence has always been treated differently from a tax perspective - the most obvious example being the lack of capital gains tax applied to any price appreciation recorded between sales. It’s a family’s shelter, and most families either have no choice but to own a house, or would not want to sell their house for tax purposes as they would only have to rely on others or the government to provide accommodation. That’s why the distinction between purchase price and current valuation is essentially irrelevant for the primary residence when it comes to tax.

Your other point about VAT is also irrelevant to the debate as for the most part VAT is applied to discretionary purchases, something which housing / shelter certainly isn’t.
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I’m not wrong that the purchaser has only paid tax on the money used to purchase the property which was the point that I made. The rest of your post is moot because irrespective of its merits it doesn’t refute anything I said.

Comprehension doesn’t seem to be one of your strengths whereas undeserving condescension certainly is.
 
Personally I’d separate the primary residence from any other assets and raise tax against the value of the property , which after all is unearned wealth . The question against savings is the fact that people have already paid tax against this either in income tax , dividend tax, capital gains tax etc etc . No doubt whatsoever that the super rich should be paying inheritance tax , unfortunately I don’t fall into that category.
 
west didsblue said:
I’m not wrong that the purchaser has only paid tax on the money used to purchase the property which was the point that I made. The rest of your post is moot because irrespective of its merits it doesn’t refute anything I said.

Comprehension doesn’t seem to be one of your strengths whereas undeserving condescension certainly is.
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He’s got to be against IHT, given his username.
 
Jesus the level our senior law ministers are at is so low - there has been no arrest no charges and nothing going to or in court - what the fuck is she on about ?

www.gov.uk

Media Advisory Notice: Russell Brand

The Attorney General confirms the requirement not to publish material which could prejudice any potential criminal investigation or prosecutions.
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bluethrunthru said:
Jesus the level our senior law ministers are at is so low - there has been no arrest no charges and nothing going to or in court - what the fuck is she on about ?

www.gov.uk

Media Advisory Notice: Russell Brand

The Attorney General confirms the requirement not to publish material which could prejudice any potential criminal investigation or prosecutions.
www.gov.uk www.gov.uk
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Oh lord, this is my MP.
The old saying about electing a turd in a blue rosette is very pertinent round here where she is concerned.
 
I see that Braverman is back with a new way forward for refugees. Interesting, she talks about wanting to get closer to Europe on the matter. Where have I heard that before, haven‘t Labour just touted this?
 
The Future’s Blue! said:
I see that Braverman is back with a new way forward for refugees. Interesting, she talks about wanting to get closer to Europe on the matter. Where have I heard that before, haven‘t Labour just touted this?
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Uncontrolled immigration , some of it under the guise of refugee status is beoming a big issue for many parts of the world. Especially parts of southern Europe. People naturally want a better lifestyle , everyone has a smart phone these days, it's pretty easy to tell your friends about your new life and how to get to a country, crossing the Med and Channel are dangerous but lots of people are clearly prepared to take the risk. Not sure there's a easy solution either.
 
Stopping migration is easy; stop wars and famine. There, solved. Never going to happen.

As said above, people will always look for a way to better their lives. Just look at all of us on here; how many of us are still living in the place they were born in? Most of us have moved for better jobs and a better life.
 
carlosthejackal said:
Personally I’d separate the primary residence from any other assets and raise tax against the value of the property , which after all is unearned wealth . The question against savings is the fact that people have already paid tax against this either in income tax , dividend tax, capital gains tax etc etc . No doubt whatsoever that the super rich should be paying inheritance tax , unfortunately I don’t fall into that category.
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We already have a property value tax, it's called stamp duty. A £2m house attracts £150k stamp duty (almost 10% effective tax rate on value) whereas a £250k house attracts no stamp duty at all. If we're talking of fairness then why should a £2m sale require the payment of even more stamp duty?

The easiest way to solve the tax problem is to look at the evidence. We're already heavily taxed in terms of income, property and goods, if anything for those taxes need reducing. However, UK social contributions are well below average compared to the other European countries. Europeans pay double social social contributions compared to us.

NI urgently needs reform and put more in line with the rest of Europe. This is the reason why they all have amazing healthcare and welfare benefits whereas here we get nothing, it's because we and employers don't pay enough.

Try selling that to the population though? Who on here will vote for higher taxes on themselves to help the NHS? I'm sure those on the left will jump at the chance.... This is why the Tories won't touch NI, low taxes in some respects are one thing that will help them to cling on to 'some' of the working class vote.
 
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inbetween said:
We already have a property value tax, it's called stamp duty. A £2m house attracts £150k stamp duty (almost 10% effective tax rate on value) whereas a £250k house attracts no stamp duty at all. If we're talking of fairness then why should a £2m sale require the payment of even more stamp duty?

The easiest way to solve the tax problem is to look at the evidence. We're already heavily taxed in terms of income, property and goods, if anything for those taxes need reducing. However, UK social contributions are well below average compared to the other European countries. Europeans pay double social social contributions compared to us.

NI urgently needs reform and put more in line with the rest of Europe. This is the reason why they all have amazing healthcare and welfare benefits whereas here we get nothing, it's because we and employers don't pay enough.

Try selling that to the population though? Who on here will vote for higher taxes on themselves to help the NHS? I'm sure those on the left will jump at the chance.... This is why the Tories won't touch NI, low taxes in some respects are one thing that will help them to cling on to 'some' of the working class vote.
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inbetween said:
We already have a property value tax, it's called stamp duty. A £2m house attracts £150k stamp duty (almost 10% effective tax rate on value) whereas a £250k house attracts no stamp duty at all. If we're talking of fairness then why should a £2m sale require the payment of even more stamp duty?

The easiest way to solve the tax problem is to look at the evidence. We're already heavily taxed in terms of income, property and goods, if anything for those taxes need reducing. However, UK social contributions are well below average compared to the other European countries. Europeans pay double social social contributions compared to us.

NI urgently needs reform and put more in line with the rest of Europe. This is the reason why they all have amazing healthcare and welfare benefits whereas here we get nothing, it's because we and employers don't pay enough.

Try selling that to the population though? Who on here will vote for higher taxes on themselves to help the NHS? I'm sure those on the left will jump at the chance.... This is why the Tories won't touch NI, low taxes in some respects are one thing that will help them to cling on to 'some' of the working class vote.
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So you believe fairness is someone who can afford a two million pound house should not pay stamp duty ?
 
carlosthejackal said:
So you believe fairness is someone who can afford a two million pound house should not pay stamp duty ?
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It's hard to assign fairness when it comes to a 10% tax on a £2m property versus 0% tax on a £250k property.... I'm not saying they should pay nothing however it's already more than enough.

Think also of the double whammy of inheritance tax when someone dies and stamp duty paid if a property is later sold. For someone with a house/estate worth less than £350k, there is zero inheritance tax and negligible stamp duty.

The tax bill meanwhile for a £2m house/estate would be well into six figures and then when the house is sold you get hit six figures on stamp duty too. So in reality you never ever see £2m, it'd actually be around half!
 
inbetween said:
It's hard to assign fairness when it comes to a 10% tax on a £2m property versus 0% tax on a £250k property.... I'm not saying they should pay nothing however it's already more than enough.

Think also of the double whammy of inheritance tax when someone dies and stamp duty paid if a property is later sold. For someone with a house/estate worth less than £350k, there is zero inheritance tax and negligible stamp duty.

The tax bill meanwhile for a £2m house/estate would be well into six figures and then when the house is sold you get hit six figures on stamp duty too. So in reality you never ever see £2m, it'd actually be around half!
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Are you envying the poor?
 
inbetween said:
We already have a property value tax, it's called stamp duty. A £2m house attracts £150k stamp duty (almost 10% effective tax rate on value) whereas a £250k house attracts no stamp duty at all. If we're talking of fairness then why should a £2m sale require the payment of even more stamp duty?

The easiest way to solve the tax problem is to look at the evidence. We're already heavily taxed in terms of income, property and goods, if anything for those taxes need reducing. However, UK social contributions are well below average compared to the other European countries. Europeans pay double social social contributions compared to us.

NI urgently needs reform and put more in line with the rest of Europe. This is the reason why they all have amazing healthcare and welfare benefits whereas here we get nothing, it's because we and employers don't pay enough.

Try selling that to the population though? Who on here will vote for higher taxes on themselves to help the NHS? I'm sure those on the left will jump at the chance.... This is why the Tories won't touch NI, low taxes in some respects are one thing that will help them to cling on to 'some' of the working class vote.
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Don’t pay enough NI, Christ I was paying almost as much NI as income tax when I was working, Id pay an extra penny in the pound tax if it sorted the shot show out, but they just blow it on HS3 or some other shit their mates will make loads of money off.
 
If it were up to me then upon death all of your major capital assets, including your body and organs, would revert to the state. You’re dead so you get no say in this as you are a non-entity.

Let’s level the playing field.
 
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