Right to buy tenant plan to cost LLs £50 Billion

MobileSaver

RealElement47 wrote: »

Who gets to work out what the property would hve old for it yout the dicount?

Who cares? Corbyn is never going to get into power anyway.

seven-day-weekend

RealElement47 wrote: »

50 per cent off the market price for a flat or 35 per cent for a house. After five years you get an extra 1 per cent discount for every extra year you have lived in the house, 2 per cent if it’s a flat, up to a maximum of 70 per cent, or £82,800 across England and £110,500 in London, whichever is lower.

My flat is only worth £100k!

So how much money will I be allowed to have once the tenant has bought it for £50k?

My current tenant is buying a house (on the open market) and I will let it out again, this time, but in the unlikely event of a Labour Government, it will be sold on the open market. No CGT will be applicable.

RealElement47

MobileSaver wrote: »

Who cares? Corbyn is never going to get into power anyway.

Stranger things have happened

RealElement47

seven-day-weekend wrote: »

My flat is only worth £100k!

So how much money will I be allowed to have once the tenant has bought it for £50k?

My current tenant is buying a house (on the open market) and I will let it out again, this time, but in the unlikely event of a Labour Government, it will be sold on the open market. No CGT will be applicable.

You think it's worth 100k but falling every yr

The tenant could prob buy for 40k and you would get 30

chucknorris

RealElement47 wrote: »

You think it's worth 100k but falling every yr

The tenant could prob buy for 40k and you would get 30

The flat that I sold last month, I bought in 1991 for £70k, that also fell every year, until I had eventually had enough and sold it for only £530k. If only I had rented a bedsit in Edinburgh instead!

I suppose you will come back with your usual comment about CGT, to which my reply would be that I wish the CGT had been twice as much.

DannyGold

That’s very good of you wishing you paid twice as much tax,

Why not over pay voluntarily I’m sure they wouldn’t mind

The country need people like you takin*all the risk and paying all the tax, but in reality I think you are not quite telling all the truth

chucknorris

DannyGold wrote: »

That’s very good of you wishing you paid twice as much tax,

Why not over pay voluntarily I’m sure they wouldn’t mind

The country need people like you takin*all the risk and paying all the tax, but in reality I think you are not quite telling all the truth

I am telling the truth, but you are not intelligent enough to understand what I am saying!

I reckon everyone that else on here, except you of course, understands that when I say that I wish I had paid more 28% CGT, it means that I would get more of the 72%. Is it really that difficult for you to see that?

The-Joker

It’s too good to be true any of these perma property bulls saying they are happy to pay twice as much tax.

Nobody likes paying tax and the only things certain in life are death and taxes, oh and uncertainty when it comes to brexit consequences

chucknorris

The-Joker wrote: »

It’s too good to be true any of these perma property bulls saying they are happy to pay twice as much tax.

Nobody likes paying tax and the only things certain in life are death and taxes, oh and uncertainty when it comes to brexit consequences

Well I am not going to evade paying tax, so what is the point in being unhappy about it?

My estate agent just rang me to say someone has offered the asking price for my other flat on the market (bought for 58k in 1991, offer of £450k accepted a few mins ago). I'll be happy to pay that CGT too.

phillw

The-Joker wrote: »

It’s too good to be true any of these perma property bulls saying they are happy to pay twice as much tax.

He wasn't talking about increasing the percentage that CGT was charged at, only that he wished the sale price had been higher. While it meant he'd have paid more CGT, he would have made more money overall.

It's like people being upset about us giving money to the EU, when we make more money back from it because we pay that money than we will when we don't. It's called being penny wise and pound foolish.