Stamp Duty Ending

mrlegend123

sellers to pay stamp duty and not buyers sorted 

Mickey666

Angela_D_3 said:

Mickey666 said:

Angela_D_3 said:

Mickey666 said:

retepetsir said:

mrlegend123 said:

retepetsir said:

mrlegend123 said:

retepetsir said:

They are looking at the idea of a property levy now, based on current values, instead of Council Tax and Stamp Duty. That will definitely hurt me in the South East!

good, why should up north pay more than down south?

Areas like Middlesbrough and Hartlepool paying more council tax than the south - wrong!! 

Do they? I'm not talking about London here. The prices were also lower up North at the time bands were set, so that is rubbish. The rates here in Sussex are lower.
I don't fully agree with replacing the Council Tax charge completely though. 
As an example - typical 3-bedroom house in Sussex, Band D, I would expect further north this to be a C or B?

Yes, say Portsmouth for example, Band D £ 1732 and Hartlepool Band D £2090.
Portsmouth Property Prices £240,000
Hartlepool Property Prices £105,000
I can't wait for the Government to introduce the property tax based on property prices (if they do).....the southerners will have to find the extra money from somewhere  

But would the banding not then vary too?

It's also based on density, I would argue the density of people in the South is much higher. 

Quite possibly, but where would you set the north/south divide (no jokes please)?  And what about varying the banding between town and country.  And yes, population density, might need to adjust for that as well.  See how complicated and arbitrary it's all getting?

Besides, imagine two people, same job, same income.  One blows all his spare cash on the horses and booze and rents a bedsit, one scrapes by to buy himself a nice house.  All of a sudden, the person with the nice house (all paid for with taxed money of course) is hit with a property tax.  Is that fair?

Well yes it is fair because one has an asset and the other doesnt.  

The boozing one who sounds far more fun is probably paying more in VAT anyway 

A tax system to reward the feckless?  Nice.

As aposed to currently rewarding the idle rich 

what's  'idle' or 'rich' about buying or owning your own home?  If you want to penalise those who inherit large property portfolios (and there you have some sympathy) then do it through IHT or increasing 2nd home taxes, but don't penalise the hard working home owner who has bought themselves a nice home for their reduced-income retirement with a tax that takes no account of ability to pay.

SpiderLegs

mrlegend123 said:

sellers to pay stamp duty and not buyers sorted 

Well I’m going to take a flyer and make a few bold assumptions based on no evidence.

I think that -
most ftbers pay zero or insignificant SDLT
most sellers are also buyers.
more sellers are moving up the ladder than down it.

It’s a plan therefore that only really hurts people selling but not buying. Disincentivizing supply side isn’t going to make house prices drop despite what some loons think. Present company excepted.
oh, and suddenly making what would effectively be an inheritance tax applicable to lots more people who currently wouldn’t pay it isn’t going to go down well with the electorate.

retepetsir

mrlegend123 said:

I can't wait for the property tax (if the Gov implements it), about time the asset rich cash poor put their hands in their pockets in London and South-East. Imagine for example 0.45% of property value per year in London lol the extra money would deffo level up the north! 

I'm not quite sure what your point is. I work for a large national company, salaries are pretty much the same across the board but house prices down here are more than double. Does it mean I should pay much more 'tax' on a property just because it took me longer to get on the ladder and have a bigger mortgage?

mrlegend123

retepetsir said:

mrlegend123 said:

I can't wait for the property tax (if the Gov implements it), about time the asset rich cash poor put their hands in their pockets in London and South-East. Imagine for example 0.45% of property value per year in London lol the extra money would deffo level up the north! 

I'm not quite sure what your point is. I work for a large national company, salaries are pretty much the same across the board but house prices down here are more than double. Does it mean I should pay much more 'tax' on a property just because it took me longer to get on the ladder and have a bigger mortgage?

correct more tax, house price inflation is greater down south than up north... 

Crashy_Time

SpiderLegs said:

mrlegend123 said:

sellers to pay stamp duty and not buyers sorted 

Well I’m going to take a flyer and make a few bold assumptions based on no evidence.

I think that -
most ftbers pay zero or insignificant SDLT
most sellers are also buyers.
more sellers are moving up the ladder than down it.

It’s a plan therefore that only really hurts people selling but not buying. Disincentivizing supply side isn’t going to make house prices drop despite what some loons think. Present company excepted.
oh, and suddenly making what would effectively be an inheritance tax applicable to lots more people who currently wouldn’t pay it isn’t going to go down well with the electorate.

Why bother with a SD "holiday" in that case?

SpiderLegs

Crashy_Time said:

SpiderLegs said:

mrlegend123 said:

sellers to pay stamp duty and not buyers sorted 

Well I’m going to take a flyer and make a few bold assumptions based on no evidence.

I think that -
most ftbers pay zero or insignificant SDLT
most sellers are also buyers.
more sellers are moving up the ladder than down it.

It’s a plan therefore that only really hurts people selling but not buying. Disincentivizing supply side isn’t going to make house prices drop despite what some loons think. Present company excepted.
oh, and suddenly making what would effectively be an inheritance tax applicable to lots more people who currently wouldn’t pay it isn’t going to go down well with the electorate.

Why bother with a SD "holiday" in that case?

Oh for gods sake there really is no hope for you crashy. 

Crashy_Time

SpiderLegs said:

Crashy_Time said:

SpiderLegs said:

mrlegend123 said:

sellers to pay stamp duty and not buyers sorted 

Well I’m going to take a flyer and make a few bold assumptions based on no evidence.

I think that -
most ftbers pay zero or insignificant SDLT
most sellers are also buyers.
more sellers are moving up the ladder than down it.

It’s a plan therefore that only really hurts people selling but not buying. Disincentivizing supply side isn’t going to make house prices drop despite what some loons think. Present company excepted.
oh, and suddenly making what would effectively be an inheritance tax applicable to lots more people who currently wouldn’t pay it isn’t going to go down well with the electorate.

Why bother with a SD "holiday" in that case?

Oh for gods sake there really is no hope for you crashy. 

The good news is that it will be back soon anyway.

Bio23

Crashy_Time said:

SpiderLegs said:

Crashy_Time said:

SpiderLegs said:

mrlegend123 said:

sellers to pay stamp duty and not buyers sorted 

Well I’m going to take a flyer and make a few bold assumptions based on no evidence.

I think that -
most ftbers pay zero or insignificant SDLT
most sellers are also buyers.
more sellers are moving up the ladder than down it.

It’s a plan therefore that only really hurts people selling but not buying. Disincentivizing supply side isn’t going to make house prices drop despite what some loons think. Present company excepted.
oh, and suddenly making what would effectively be an inheritance tax applicable to lots more people who currently wouldn’t pay it isn’t going to go down well with the electorate.

Why bother with a SD "holiday" in that case?

Oh for gods sake there really is no hope for you crashy. 

The good news is that it will be back soon anyway.

Do you mean the government will extend it?

SpiderLegs

Crashy_Time said:

SpiderLegs said:

Crashy_Time said:

SpiderLegs said:

mrlegend123 said:

sellers to pay stamp duty and not buyers sorted 

Well I’m going to take a flyer and make a few bold assumptions based on no evidence.

I think that -
most ftbers pay zero or insignificant SDLT
most sellers are also buyers.
more sellers are moving up the ladder than down it.

It’s a plan therefore that only really hurts people selling but not buying. Disincentivizing supply side isn’t going to make house prices drop despite what some loons think. Present company excepted.
oh, and suddenly making what would effectively be an inheritance tax applicable to lots more people who currently wouldn’t pay it isn’t going to go down well with the electorate.

Why bother with a SD "holiday" in that case?

Oh for gods sake there really is no hope for you crashy. 

The good news is that it will be back soon anyway.

When do you think it will announced?
before or after the market shuts down?