How about paying tax on house sales?
usersnowie
Posted: 16 December 2018 10:08 PM
Subject: How about paying tax on house sales?
 


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Ok, this thread started out of the second referendum one
Pelmet and I were discussing, amongst other things, moving house in Lincolnshire.
pelmetman - 2018-12-16 8:51

We were in the wilds of Lincolnshire for 12 years .......the longest we've ever lived anywhere .........

We down sized from a 3 bed detached house in the wilds .....to a three bed detached house with a much smaller garden, in Spilsby on a bus route to two hospitals ........

Er in doors worries about me ......

It's currently rented and the powers that be has yet to decide whether I will live there .......


My thoughts on this".........

..So how do you feel about paying tax on house sales?

You see I think it would be a very positive move.

Less “Englishman’s home is his castle” more, “Englishman’s home is his biggest untaxed asset””

Move every 2 or 3 years, and you pay tax on the increase in value of that asset, stay put, and ok, we also pay, but on some carefully crafted formula.

I think it would make house prices more affordable to our kids, and might encourage people to stay a little longer, obviously subject to all sorts of reasons why people move out of an area.
I suppose some people might resent being “encouraged” to stay in an area, but communities might benefit from a bit less churn?

Sorry if this can’t be split off, but sometimes threads raise multiple issues

Snowie
usercolin
Posted: 16 December 2018 10:19 PM
Subject: RE: How about paying tax on house sales?
 


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You might have to pay tax on house purchases, it's called Stamp Duty Land Tax, also if you have more than one house you might have to pay Capital Gains Tax.
usersnowie
Posted: 16 December 2018 10:34 PM
Subject: RE: How about paying tax on house sales?
 


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Yes, but regular buying and selling can be very profitable, and currently attracts no tax.

Stamp duty and Council tax are different things, not taxes on income.

Snowie
userJohn52
Posted: 17 December 2018 7:11 AM
Subject: RE: How about paying tax on house sales?
 


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Have you thought how much it restricts labour mobility?
You can't solve the housing and housing benefit crisis without houses.
We aren't building enough because planning restrictions won't allow us to.
The system gives power to local nimbys over the homeless.
And Government intervention in the housing market pours petrol on the fire by stoking up demand with more taxpayer funded subsidies like so-called 'help to buy'
Per head of [population Britain spends more on housing benefit than any other developed country.
And still we have rising homelessness and widespread slum housing..
With very wealthy conservative landlords determined to conserve the whole rotten corrupt system for their own benefit.

Edited by John52 2018-12-17 7:18 AM
userantony1969
Posted: 17 December 2018 8:50 AM
Subject: RE: How about paying tax on house sales?
 


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John52 - 2018-12-17 7:11 AM

Have you thought how much it restricts labour mobility?
You can't solve the housing and housing benefit crisis without houses.
We aren't building enough because planning restrictions won't allow us to.
The system gives power to local nimbys over the homeless.
And Government intervention in the housing market pours petrol on the fire by stoking up demand with more taxpayer funded subsidies like so-called 'help to buy'
Per head of [population Britain spends more on housing benefit than any other developed country.
And still we have rising homelessness and widespread slum housing..
With very wealthy conservative landlords determined to conserve the whole rotten corrupt system for their own benefit.


Your house is supposedly nearly always empty ... Put up or shut up
userpelmetman
Posted: 17 December 2018 9:10 AM
Subject: RE: How about paying tax on house sales?
 


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snowie - 2018-12-16 10:34 PM

Yes, but regular buying and selling can be very profitable, and currently attracts no tax.

Stamp duty and Council tax are different things, not taxes on income.

Snowie


We may well be liable for tax if we sell our Lincolnshire property without ever living in it, because it will be classed as a capital gain ...........



userpelmetman
Posted: 18 December 2018 8:56 AM
Subject: RE: How about paying tax on house sales?
 


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I've an idea .............

How about those who bought their council house for peanuts .......

Pay tax on the profit when they sell ........

usersnowie
Posted: 18 December 2018 10:13 AM
Subject: RE: How about paying tax on house sales?
 


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pelmetman - 2018-12-18 8:56 AM

I've an idea .............

How about those who bought their council house for peanuts .......

Pay tax on the profit when they sell ........



Pay tax on profits, what a good idea. ( I’d have thought a bit Socialist for you ?)

Huge profit on council house..... check
Huge profit on chintzy barn conversion........check

No difference, it’s the huge, and the profit, simple. (Actually not so simple if you want to be fair as well)

Snowie
userpelmetman
Posted: 18 December 2018 3:37 PM
Subject: RE: How about paying tax on house sales?
 


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snowie - 2018-12-18 10:13 AM

pelmetman - 2018-12-18 8:56 AM

I've an idea .............

How about those who bought their council house for peanuts .......

Pay tax on the profit when they sell ........



Pay tax on profits, what a good idea. ( I’d have thought a bit Socialist for you ?)

Huge profit on council house..... check
Huge profit on chintzy barn conversion........check

No difference, it’s the huge, and the profit, simple. (Actually not so simple if you want to be fair as well)

Snowie


Kinda depends on who subsidised their profit to my mind ............

Council house........UK Taxpayer
Chintzy Barn..........A Taxpayer

.........

usersnowie
Posted: 18 December 2018 5:10 PM
Subject: RE: How about paying tax on house sales?
 


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pelmetman - 2018-12-18 3:37 PM

snowie - 2018-12-18 10:13 AM

pelmetman - 2018-12-18 8:56 AM

No difference, it’s the huge, and the profit, simple. (Actually not so simple if you want to be fair as well)

Snowie


Kinda depends on who subsidised their profit to my mind ............

Council house........UK Taxpayer
Chintzy Barn..........A Taxpayer

.........



You have me pretty confused, I’d have thought, bearing in mind your previous views expressed, that councillor house sales and subsequent profit taking were fair game?

Snowie
userpelmetman
Posted: 18 December 2018 5:35 PM
Subject: RE: How about paying tax on house sales?
 


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snowie - 2018-12-18 5:10 PM

pelmetman - 2018-12-18 3:37 PM

snowie - 2018-12-18 10:13 AM

pelmetman - 2018-12-18 8:56 AM

No difference, it’s the huge, and the profit, simple. (Actually not so simple if you want to be fair as well)

Snowie


Kinda depends on who subsidised their profit to my mind ............

Council house........UK Taxpayer
Chintzy Barn..........A Taxpayer

.........



You have me pretty confused, I’d have thought, bearing in mind your previous views expressed, that councillor house sales and subsequent profit taking were fair game?

Snowie


I'm just pointing out where the profit came from .............

ie the UK taxpayer subsidised the council house sellers profit.......where as the profit on the chintzy barn was purely down to the tax payer owner ........

Yet still you Socialists want to bleed the taxpayer more? ...........

usersnowie
Posted: 18 December 2018 5:41 PM
Subject: RE: How about paying tax on house sales?
 


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No, just the “entrepreneurs” I don’t think Socialists are allowed to be entrepreneurs are they?

Snowie