£53k Increase in Stamp Duty For Me

tonyinessex

wiseguy80 wrote: »

I'm at a loss to understand why someone buying a £2m house will be reading the "money saving" expert forum.

For the shock of 53% increase in value, I empathise with you. However, I can see why the chancellor announce it to come in force from the next day. Otherwise there would have been a frenzy.

For the fairness argument, can I ask if you are non-DOM i.e. if you are resident permanently in UK and you wanted to live here for a long run.

Well I started out gambling by matched betting on this forum about 7 years ago, so used to post here. I remember there being lots of knowledgeable people here.
From there I got into other forms of gambling and have made quite a bit of money in the last 7 years.

Yes, I am a resident in the UK, but do all more work online so can do it from anywhere really.

car0line123

patanne wrote: »

The only people who care about house prices are those who don't own one, and have my sympathy and understanding, and those who own more than one and frankly that is their problem. The rest of us just try to KEEP the roof over our heads

what about people who do have a property, but needs something a bit bigger for their family? What's wrong with them?

Brallaqueen

I feel for you. For every person who benefits from this brand new situation, there are a host of others who feel hard done by. It would be a bit hypocritical for me to feel sorry for those who bought last week and could have made a saving, and not for those who are buying in the future and being affected the other way.

It was kept under wraps and thrust through alarmingly quickly which feels a little dishonest to me!

kidmugsy

Brallaqueen wrote: »

It was kept under wraps and thrust through alarmingly quickly which feels a little dishonest to me!

On the contrary, it makes it feel honest. If it wasn't "under wraps", insiders would have been gaining from it. As for "alarmingly quickly", what do you mean? Would you prefer that he muck up the whole housing market by saying what the changes were going to be, but delaying their application for a few months?

Lord_Baltimore

tonyinessex wrote: »

:mad:
So, 2 weeks before I was due to buy the house I am renting (for £1.99m) I am hit with the the bombshell that the Stamp Duty I have to pay has gone from £100,000 to £153,000.

It is a bummer from your point of view Tony and I empathise. The concept of change in SDLT is a good one for the majority though. You'll win that £53k back in no time; perhaps Ms Victoria Coren Mitchell will loan you a few bob?

Good luck mate

Cissi

wiseguy80 wrote: »

I'm at a loss to understand why someone buying a £2m house will be reading the "money saving" expert forum.

I can only answer for myself, but while we may be so-called millionaires on paper (because house prices in our area have increased at a crazy rate and we made some very lucky decisions, which led to us being able to buy our current hosue, which has since almost doubled in value - but this is kind of irrelevant as we plan to stay here long term) we don't have much by way of other savings. Yes, our monthly income is well above the national average, but that doesn't mean that we don't still have to be careful in many ways and we too need to budget sensibly in order to live within our means. I didn't know there was a limit on assets/income to be able to participate in this forum?

Jack_Johnson_the_acorn

tonyinessex wrote: »

Well I started out gambling by matched betting on this forum about 7 years ago, so used to post here. I remember there being lots of knowledgeable people here.
From there I got into other forms of gambling and have made quite a bit of money in the last 7 years.

Yes, I am a resident in the UK, but do all more work online so can do it from anywhere really.

Always interested in people who have done well from gambling.... Out of interest and if you don't mind saying, what do you bet on?
Intrigued............

kinger101

Jack_Johnson_the_acorn wrote: »

Always interested in people who have done well from gambling.... Out of interest and if you don't mind saying, what do you bet on?
Intrigued............

Preferably, the winner.

Mattygroves2

wiseguy80 wrote: »

Hi pinkteapot,
yeah, you are right. Rich people are more careful with their money.

I always thought millionaires think more in terms of investment than saving but yeah £53K is a lot of money for anyone to be just handing over to government.

Anyone who isn't bothered about having to hand £53k over to the taxman if it can be avoided isn't going to stay rich long.

There will be plenty of people on this site who are millionaires if you count property and probably a fair few that are excluding property (or at least their PPR). Some to add their experiences and help others and some to gain from the collective wisdom of others - the need to save money doesn't stop when you reach a certain level of wealth.

Mattygroves2

kinger101 wrote: »

Preferably, the winner.

Match betting is about working the odds so you win whatever the result is - which is why there is a board for it. I suspect the OP has developed a system following on from that that is more reliable than just being able to select the winner.