conservatives and stamp duty

theGrinch

today the conservatives announced if they formed the next government
they would make purchases up to £250,000 stamp duty exempt.
any thoughts? surely this is a bold move after years and years of the
the homeowner being belted

zzzLazyDaisy

I would rather see a fairer, tiered, system of Stamp Duty. Lots of people don't realise that if you buy a house over £250k you pay 3% on the whole amount, not just the bit above £250k.

So, on the Conservatives proposals - £249k = no stamp duty
- £251k = £7503 stamp duty

Okay, I know in some parts of the country £250K sounds like a lot for a house, but in other places you wouldn't get a small family home for that.

dougk_2

What it would do is stop dead all house sales between £250k and £300k in my view.

They didn't say what they would do to the properties above £250k though - maybe they would change this to 5% stamp duty... if not how will they find a replacement for this missing income - it needs to come from somewhere.

Any party saying they are cutting taxes is lying - we need more taxes in order to pay for everything we want or need - not less!

deemy2004

tomorrow they will be offering free kitcheon sinks to every council tax payer.

Milky_Mocha

Reading party manifestos is sooo boring. I really want to know the basic facts about what they will do but they surround it all with so much waffle because they know they are lying, lying, lying!

I just want to weed out those party(ies) who want to bring about local income tax because they must be devils out to punish, maim and kill the hardworking people of this country. Finding that information in the manifestos is like looking for a needle in a snowstorm. They should have a bulletpoint summary of what they will do preceding all the waffle that tries to justify it.

So can anyone help me please by listing those trying to introduce a so called "fairer tax" to replace council tax?

dougk_2

My whole take on politics is that MP's lie and are never accountable.

If I went for a job and told them I could do things I couldn't I would later be sacked instantantly and could even be sued.

Similarly if a paper publishes lies they are sued nowdays - so why can't the same happen for MP's. If they say something it should be kept to - no excuses!

A fair replacement to Council Tax is just to increase the standard Tax Rates for everyone. The councils could then be funded soley by government for the basic services.

theGrinch

yes its a good move, but it could distort the properties around £250k. definitely a graduated system would be appealing and damn right fair.

Pal

I would have to be a graduated system otherwise house prices would get really distorted. Prices in the £250k - £300k bracket would crash immediately.

Actually I think it is a great idea!

monkeyman77

A good idea, I reckon.

mortgage

antenna

The common practice in Spain is to underdeclair the selling price of your property by at least 20%.......and receive the difference in cash or under the counter cheque........this saves taxes which in Spain are very high.....up to 35% tax on capital gain...........this also goes on in the uk......but with much less scope.......but now if your property sold for 285.000 pounds you would be a fool to declare this value for the property,you would still receive 285.000 pounds but 36.000 would be for fixtures and fittings.......or under the counter cash................(now)...if the conservative party wins the election

Joe_Bloggs

Stamp duty is the oldest tax still in existance. The treasury has sat on its fat !!!!!! for three hundred years and not done a thing apart from adding things to what it can be applied to. It is an ancient tax that has been left unreformed.
http://www.hmrc.gov.uk/so/so6.htm