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Petition to abolish STAMP DUTY !!!
Comments
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Stamp duty is not a good tax because it hits people at the point when they are most financially stretched.
It is clear that many people today are buying and selling property to make money. In these circumstances, the fairest solution must be to introduce a capital gains tax on property. If people don't want to pay the tax when trading up, this can be converted into a %age liability on the new property. Thus a person would only have to pay their tax on death or when trading down.0 -
yes I spotted that survey, there was something similar for expats and inheritance tax on http://www.finance4expats.com which looked good. Not sure if it had any effects but its nice to think someone is trying!0
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Guy_Montag wrote: »What's wrong with a tax on rich, dead people that's my perfect tax.
It doesnt just hit rich dead people. With house prices as high as they are, average people who just owned their home and want to leave it to their children will be affected. The house may need to be sold to pay off the taxes.
And if they took 40% of everything you made while you live, why the bleeding **** should they take even more off you after you are dead ?0 -
sinizterguy wrote: »It doesnt just hit rich dead people. With house prices as high as they are, average people who just owned their home and want to leave it to their children will be affected. The house may need to be sold to pay off the taxes.
And if they took 40% of everything you made while you live, why the bleeding **** should they take even more off you after you are dead ?
It still, according to HM Govt. only affects 6% of people, so it's still just affecting the rich. I'd rather they took less off you when you were alive & more once you pop your clogs. As for the house value taking you over the IHT threshold, just another reason why we need a correction."Mrs. Pench, you've won the car contest, would you like a triumph spitfire or 3000 in cash?" He smiled.
Mrs. Pench took the money. "What will you do with it all? Not that it's any of my business," he giggled.
"I think I'll become an alcoholic," said Betty.0 -
sinizterguy wrote: »It doesnt just hit rich dead people. With house prices as high as they are, average people who just owned their home and want to leave it to their children will be affected. The house may need to be sold to pay off the taxes.
And if they took 40% of everything you made while you live, why the bleeding **** should they take even more off you after you are dead ?
So now the 'average joe' is rich IHT is no longer fair as their estate has to pay it when they're gone. You could always give your assets to to heirs long before you die, then you won't have to pay any IHT at all; or, is it a case of that they want their cake and eat it?0 -
Stamp duty is a terrible tax. You pay it on share purchases too which is a drag on the performance of your pension.0
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Dont laugh....I e-mailed Gordon Brown the other day about the stamp-duty issue.....I was moaning about it and although I know it will make no difference, I felt SO much better after I had emailed him!!!!!!! My point was more that the thresholds and percentages that determine what has to be paid really need to be reviewed.
Strange, I have been sat waiting by my letterbox, but havent had a reply. Maybe its on its way.....(!!)0 -
I think it affects the 6% of the population who didn't make plans for avoiding it or didn't realise that their estate would be large enough to be affected by it. The "rich" made plans well in advance to avoid paying it.Guy_Montag wrote: »It still, according to HM Govt. only affects 6% of people, so it's still just affecting the rich. I'd rather they took less off you when you were alive & more once you pop your clogs. As for the house value taking you over the IHT threshold, just another reason why we need a correction.A house isn't a home without a cat.
Those are my principles. If you don't like them, I have others.
I have writer's block - I can't begin to tell you about it.
You told me again you preferred handsome men but for me you would make an exception.
It's a recession when your neighbour loses his job; it's a depression when you lose yours.0 -
Tax is theft. Welfare enslaves the taxpayer. Wilbur Wilberforce worked out in the C19th that living from the work of another is immoral yet voters since 1911 have voted consistently for every higher levels of slavery for taxpayers.0
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Getting rid of stamp duty on property will only inflate prices further for first time buyers, at a time when interest rates have peaked.
This was the experience in Ireland recently when the government there raised the 0% threshold substantially. The houses that were newly exempt jumped in price by 3% overnight.
Net result was that the purchaser still suffered, and the vendor benefitted at the expense of the taxpayer0
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