We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Rationale for Stamp Duty and Bands
michaels
Posts: 29,527 Forumite
2 questions
1. Why should you pay tax to move house?
2. Buying a house for 119995 you pay no tax, a pound more you pay 1200 - how does this make sense? If income tax was charged this way there would be an outcry and avoidance would be rife.
1. Why should you pay tax to move house?
2. Buying a house for 119995 you pay no tax, a pound more you pay 1200 - how does this make sense? If income tax was charged this way there would be an outcry and avoidance would be rife.
I think....
0
Comments
-
Do not look for a black cat in a dark room in which there isn't any cat at all! :rotfl:0
-
use your vote at the general election"enough is a feast"...old Buddist proverb0
-
michaels wrote:
1. Why should you pay tax to move house?
We pay tax on everything else so why not this!michaels wrote:2. Buying a house for 119995 you pay no tax, a pound more you pay 1200 - how does this make sense? If income tax was charged this way there would be an outcry and avoidance would be rife.
You’re right, it doesn't make sense and IMHO is complete cr*p
Unless I've missed something none of the politicians are offering to reform stamp duty. Unless a government is willing to accept reduced revenue from stamp duty, making it fairer would mean that many people would pay more. Not a very positive message at election time.theGrinch wrote:use your vote at the general election
0 -
michaels wrote:2 questions
1. Why should you pay tax to move house?
2. Buying a house for 119995 you pay no tax, a pound more you pay 1200 - how does this make sense? If income tax was charged this way there would be an outcry and avoidance would be rife.
I agree the stamp duty tax is an unfair tax, it was originally a war tax (against france), but they continued it... I mean the wars been over for some 300 years :rolleyes:
It is ridiculous, that a buyer loses his effective tax free allowance by going over the band by £1 !! How would income tax payers feel if they lost their £4745 allowance if they earned over basic rate by £1 !0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.3K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.2K Work, Benefits & Business
- 603.9K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards