What tax changes are you expecting at the budget?

newatc

I think the removal of 25% council tax has been ruled out.
Capital tax increases inevitable but may not be high as predicted.
Reduction of maximum tax free pension cash reduced almost certain (I guess 100k)
Inherited Pensions tax free for under 75 to be removed.
Inheritance Tax Loopholes to be removed. Certain but which ones?
Freezing of Tax Allowances certain but for how long?
Fuel Duty up.
Tobacco hit again?
Gambling companies tax increased. Very likely.
Stamp Duty allowed to rise by removing temporary increase in starting threshold.
Praying to be taxed (ok thats not very likely)

subjecttocontract

There are numerous opportunities to increase tax revenues.... which are only limited by your own imagination.
We won't know until a week on Wednesday which ones will have been selected.
I'd suggest theres a fine line between debating those political decisions & the rules of this forum.

ader42

hallmark said:

As has been pointed out elsewhere, Freeholder or not nobody truly owns their house in the UK.  We're all tenants and the council is the landlord.

Slight correction if I may, The Crown owns all the land under our houses not the local council. We home owners (mortgaged and/or owned outright) simply have the (potentially temporary) legal right to act as if we are owner; this is a subtle difference to what many believe. 

I suspect new higher council tax bands will be created, and so they should be imho. 

valueman1

They could impose a property tax say 0.25% of purchase value per annum to replace stamp duty but the idea hasn’t be leaked/ floated.

Albermarle

hallmark said:

The big one that's not been "trialled by leak" yet is council tax.  Which would IMO be the worst of all and will become a wealth tax in all but name.

As has been pointed out elsewhere, Freeholder or not nobody truly owns their house in the UK.  We're all tenants and the council is the landlord.

I'm certain that before the end of this Government Council tax will be massively higher than it already is.

Possibility of an increase of by how much councils can increase council tax each year?
Many are in various levels of financial crisis, and all are struggling with social care costs.

ZeroSum

valueman1 said:

They could impose a property tax say 0.25% of purchase value per annum to replace stamp duty but the idea hasn’t be leaked/ floated.

Why would you replace a one off transaction tax with a rolling annual one?

What was floated was replacing council tax with a property value tax of 0.5%. Great for those like me living in NE where houses are relatively cheap & affordable. Not so for those down south. However it would be a genuine levelling up policy.

valueman1

Some say Stamp Duty is a bad tax because it reduces the incentive to move. People down south and in London, in particular, already pay far more Stamp Duty than those in other parts of the country.

ninaluna754

ader42 said:

I suspect new higher council tax bands will be created, and so they should be imho. 

I hope you are right!

subjecttocontract

Perhaps the budget will include some good news, a budget usually does for someone, somewhere. Reduced VAT rate to say, 15%, more help for immigrants, a clamp down on MP freebies, a pay rise for the NHS, increased funding for the armed forces et c ?

ircE

Some of these: Dan Neidle, Resolution Foundation.