They just turn themselves into limited companies and dodge tax, there’s a lad at work who with his mate owns 9 properties they’ve created a company and the way they can write things off etc they pay very little if any tax. Now imagine millionaires doing this (Robbie fowler) on a huge scale.Just read somewhere about Micah owning shit loads of properties. Surely this is not right. I understand the concept of enterprise n all. But come on. When u have footballers and other rich fuckers owning like 20 properties. Surely something has to be done about it.
Right now, go through London, and every corner there are new property builds. At some point UK or London will run out of space.
And its the reason for the increase in stamp duty. Sorry doesn't work. Maybe increase taxes on people owning more than 3 properties. That should sort the shortages. Oh wait, even politicians are in on this also. What a fucked up world.
u hot the nail on the head. That limited company setup - what a fucking joke. Yes I know a albanian dude also. Been in the country for around 15 years. Anyhow he has 3 houses in London under his limited company. He works in IT contracting. And the whole thing doesn't make sense and is not fair one bit.They just turn themselves into limited companies and dodge tax, there’s a lad at work who with his mate owns 9 properties they’ve created a company and the way they can write things off etc they pay very little if any tax. Now imagine millionaires doing this (Robbie fowler) on a huge scale.
Or the world
Perhaps the Church of England, the Catholic Church and Network Rail, three of the biggest holders of empty property in this country, would like to hand over the building stock they are quite happy to sit on and remain dilapidated...
Cunts
Well written.Fully understand where you are coming from but in the 70s you typically had families with only one wage earner. By the late 80s there was a massive increase in women going into full time jobs and higher paid roles. Whilst that was great for social progress, what it did do was put more money into the pockets of those who were termed at the time as Dinks (Double Income No Kids).
With the extra money available this impacted housing which generally has always been seen as a good investment.
So we went from one good salary to get a nice house in a good neighbourhood to needing two good salaries.
Couple that with the ridiculously cheap money available and ease of getting buy to let mortgages and you get to where we are now.
In a capitalist economy the only way to fully address house prices is to either increase supply which won't happen in the nice areas or reduce the amount of cheap money available.
Taxation changes may help, for instance a reassessment of rateable value based upon present day values or a buy to let tax owners. But the former would only make all housing more expensive to live in and the latter will only free up supply at the very bottom end of the market, plus many self employed use buy to let's as part of their pension.
A subject close to my heart and has been touched on in the politics thread.
Thought it would be interesting to get everyone's ideas on what could solve it.
It is incredible to think that young people face the burden of university debt and then the huge task of buying a house and having kids all before 30 for many. Not an easy task at all.
I agree that building council homes is the way forward. However what is also needed is a government owned house builder building decent houses people can buy. Employing tradesman on prIce and with industry leaders building efficiently on government owned land. It is my firm believe that decent quality 3 bed houses can be delivered for sub 100k build costs. A few million of these built over the next few years would go a long way.
You only have to look at the profits made by the large House builders (Making over 50k per house built) to see that cost savings can be made. The government should be building homes.
That saving should be passed on to the young and also would lead to a huge upsurge in young men and women taking up a trade in a secure employment environment.
Also reducing the amount of people who feel the need to go to university.
A win win situation.
Thoughts?
They do pay corporation tax on every penny profit.They just turn themselves into limited companies and dodge tax, there’s a lad at work who with his mate owns 9 properties they’ve created a company and the way they can write things off etc they pay very little if any tax. Now imagine millionaires doing this (Robbie fowler) on a huge scale.