stamp duty...why is it? and not like this?

grade15

with stamp duty..its in levels..
from houses from £0 to £125,000 = 0 %
£125,001- £250,000 = 1%
Over £250,000- £500,000 3%
Over £500,000 4%

why isn't it like our tax system..
e.g, if the house is 150,000 ..= 150,000-125,000 = 25,000
therefore 25,000 x 1% = £250
and so on..
what do u think?

payless

grade15 wrote:

why isn't it like our tax system..

because the rates would have to be higher to achieve same income..... although it would benefit those at the lower ends

Poppycat

I think its grossly unfair. It used to be a tax on the wealthly but now you struggle to find in fact it almost impossible to find a 3 bedroom (nothing fancy) for under 125k let alone a 2 bedroom

I agree that it should be as you shown but its just another way to tax us, it really does make a huge difference not paying it when one is on a low income.

abaxas

grade15 wrote:

with stamp duty..its in levels..
from houses from £0 to £125,000 = 0 %
£125,001- £250,000 = 1%
Over £250,000- £500,000 3%
Over £500,000 4%

why isn't it like our tax system..
e.g, if the house is 150,000 ..= 150,000-125,000 = 25,000
therefore 25,000 x 1% = £250
and so on..
what do u think?

Or put CGT on all homes? Why not tax above inflational 'profits' from housing?

This would remove speculation and put homes over people's heads so they can consume and ultimatly breed.

We need more non chav kids!

Gorgeous_George

Because it isn't.

It makes far too much sense to do it the way you suggest but, in the drive for lower income tax rates (especially for rich people), there needs to be other forms of revenue and SD is just one.

Fish and Chips carry VAT. Wet fish and potatoes do not.

The system is barking - but it's the system and it benefits the Chancellor (and indirectly the higher rate income tax payers).



GG

[Deleted User]

Sigh, try living in london, where 125K will buy you a shed in a rough area next to a crack den.

Stamp duty should be set regionally and relate to the council tax band that the property is in. The purchase of my 200k starter home (2 bed terrace) in outer london should not taxed any higher than a similar property elsewhere

PoorDave

ringo_24601 wrote:

Sigh, try living in london, where 125K will buy you a shed in a rough area next to a crack den.

Stamp duty should be set regionally and relate to the council tax band that the property is in. The purchase of my 200k starter home (2 bed terrace) in outer london should not taxed any higher than a similar property elsewhere

Where do you draw the line though? Should i pay the same income tax as someone who does the job as me in another region, so earns less/more before tax?