| Stamp duty reversal 09:28 - Aug 17 with 3467 views | StokieBlue |
Does anyone think this will make any difference to the housing market? I would have thought sellers would just factor the stamp duty they had to pay into the price.
It does seem sensible that the person likely making money on the property should pay the tax rather than the person trying to own the property although there are virtually no details to go on at the moment so hard to say.
https://www.theguardian.com/politics/2019/aug/16/sajid-javid-refuses-to-rule-out
He might not even get a chance to do anything if a unity coalition is sorted out quickly.
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| Stamp duty reversal on 09:36 - Aug 17 with 3005 views | sparks |
Its a terrible idea. It may well push prices up- as the seller is going to have to bring in more, to make the same equity. Its unfair on people who have bought and will have paid on the purchase adn then on the sale as well. It will push some people into negative equity.
More importantly- if its aimed at first time buyers- there is already provision that first timers dont pay on values less than 300k. A first time buyer really oughtnt to be looking beyond that price point (and the vast majority of normal folk simply cant). This is very london centric- and aimed at wealthy people to the detriment of the rest. |  |
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| Stamp duty reversal on 09:46 - Aug 17 with 2946 views | homer_123 |
Seems extremely remote for a unity gov. |  |
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| Stamp duty reversal on 09:47 - Aug 17 with 2939 views | sparks |
| Stamp duty reversal on 09:46 - Aug 17 by homer_123 |
Seems extremely remote for a unity gov. |
Indeed. Hardly a priority. | |
| The presence of those seeking the truth is infinitely to be preferred to the presence of those who think they've found it.
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| Stamp duty reversal on 09:57 - Aug 17 with 2907 views | StokieBlue |
| Stamp duty reversal on 09:36 - Aug 17 by sparks |
Its a terrible idea. It may well push prices up- as the seller is going to have to bring in more, to make the same equity. Its unfair on people who have bought and will have paid on the purchase adn then on the sale as well. It will push some people into negative equity.
More importantly- if its aimed at first time buyers- there is already provision that first timers dont pay on values less than 300k. A first time buyer really oughtnt to be looking beyond that price point (and the vast majority of normal folk simply cant). This is very london centric- and aimed at wealthy people to the detriment of the rest. |
Those are excellent points.
With regards to negative equity it could always work like other capital gains taxes where the floor could be the max of 0 and (sale - purchase). It does seem like that would be complicated though and not really a high priority at the moment given it's unlikely to make much difference to the property market nationwide (as you have said London might be different and it is a bit London-centric).
SB [Post edited 17 Aug 2019 9:58]
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| Avatar - IC410 - Tadpoles Nebula |
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| Stamp duty reversal on 10:01 - Aug 17 with 2889 views | Pinewoodblue |
Most individuals who sell a house, unless downsizing, will be purchasing another, more expensive policy so in theory will pay less SDLT than under the current arrangement.
Would have liked to have seen exception on new properties, currently enjoyed by first time buyers extended to all new properties. Not sure how it will affect builders though, |  |
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| Stamp duty reversal on 10:07 - Aug 17 with 2869 views | BanksterDebtSlave |
I know nothing of this grown up stuff....apparently Miss Slave having inherited, with siblings, her parents home and sold it is not a first time buyer despite never buying a home! Is this correct. If so as I have not, would we have to buy in my name? |  |
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| Stamp duty reversal on 10:08 - Aug 17 with 2858 views | xrayspecs |
Successive governments have looked enviously at the amount of private wealth tied up in property. If they could find a way of just getting hold of a small percentage, it would make a big difference to their finances. It would be politically very unpopular so no one has yet taken the plunge. If they can find a “legitimate” way to tap into this, then they will. |  | | |
| Stamp duty reversal on 10:10 - Aug 17 with 2852 views | StokieBlue |
| Stamp duty reversal on 10:08 - Aug 17 by xrayspecs |
Successive governments have looked enviously at the amount of private wealth tied up in property. If they could find a way of just getting hold of a small percentage, it would make a big difference to their finances. It would be politically very unpopular so no one has yet taken the plunge. If they can find a “legitimate” way to tap into this, then they will. |
Surely the variously mooted LVT ideas are a better way to access that wealth than a tax that's only levied when something changes?
Once again though, LVT is something that needs to be carefully and thoroughly considered and none of the current proposals have been great.
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| Stamp duty reversal on 10:13 - Aug 17 with 2841 views | Pinewoodblue |
| Stamp duty reversal on 10:07 - Aug 17 by BanksterDebtSlave |
I know nothing of this grown up stuff....apparently Miss Slave having inherited, with siblings, her parents home and sold it is not a first time buyer despite never buying a home! Is this correct. If so as I have not, would we have to buy in my name? |
If the regulation says first time buyer,and makes no mention of first time owners. Presumably you don't pay if you purçhase a new build under £300,000. | |
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| Stamp duty reversal on 10:39 - Aug 17 with 2759 views | tabletopjoe |
This is just another move to move the tax burden to the older, the ones who have been more prudent, the ones who have saved more, the ones who have not been reckless with their money. It is not the fault of the young, they are now taught that spending what you don’t have is normal, as it is a benefit to the economy. It also excuses the government who do the same. It won’t be a benefit when the next bigger crash, just around the corner, further wipes out the savings of the prudent and creates a country even more dependent on the state. So it continues. |  |
| 'Let the ignorant argue with themselves' -- CL |
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| Stamp duty reversal on 10:46 - Aug 17 with 2736 views | sparks |
| Stamp duty reversal on 10:39 - Aug 17 by tabletopjoe |
This is just another move to move the tax burden to the older, the ones who have been more prudent, the ones who have saved more, the ones who have not been reckless with their money. It is not the fault of the young, they are now taught that spending what you don’t have is normal, as it is a benefit to the economy. It also excuses the government who do the same. It won’t be a benefit when the next bigger crash, just around the corner, further wipes out the savings of the prudent and creates a country even more dependent on the state. So it continues. |
It really isn't. | |
| The presence of those seeking the truth is infinitely to be preferred to the presence of those who think they've found it.
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| Stamp duty reversal on 10:57 - Aug 17 with 2704 views | BrixtonBlue |
| Stamp duty reversal on 09:36 - Aug 17 by sparks |
Its a terrible idea. It may well push prices up- as the seller is going to have to bring in more, to make the same equity. Its unfair on people who have bought and will have paid on the purchase adn then on the sale as well. It will push some people into negative equity.
More importantly- if its aimed at first time buyers- there is already provision that first timers dont pay on values less than 300k. A first time buyer really oughtnt to be looking beyond that price point (and the vast majority of normal folk simply cant). This is very london centric- and aimed at wealthy people to the detriment of the rest. |
"aimed at wealthy people to the detriment of the rest."
This is the whole raison d'être of the Tories. |  |
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| Stamp duty reversal on 11:27 - Aug 17 with 2646 views | Marshalls_Mullet |
Sellers are taking proceeds from sale, but not necessarily making money / profit.
Stamp duty is robbery. |  |
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| Stamp duty reversal on 11:32 - Aug 17 with 2629 views | sparks |
| Stamp duty reversal on 10:57 - Aug 17 by BrixtonBlue |
"aimed at wealthy people to the detriment of the rest."
This is the whole raison d'être of the Tories. |
Thats a very silly generalisation. | |
| The presence of those seeking the truth is infinitely to be preferred to the presence of those who think they've found it.
(Sir Terry Pratchett) | | Poll: | Is Fred drunk this morning? |
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| Stamp duty reversal on 11:32 - Aug 17 with 2623 views | itfcjoe |
| Stamp duty reversal on 11:32 - Aug 17 by sparks |
Thats a very silly generalisation. |
But broadly true |  |
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| Stamp duty reversal on 11:41 - Aug 17 with 2583 views | sparks |
| Stamp duty reversal on 11:32 - Aug 17 by itfcjoe |
But broadly true |
Not demonstrably so- no.
People just wreck their own arguments when they resort to this stuff which makes massive assumptions about people's motivations. | |
| The presence of those seeking the truth is infinitely to be preferred to the presence of those who think they've found it.
(Sir Terry Pratchett) | | Poll: | Is Fred drunk this morning? |
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| Stamp duty reversal on 11:44 - Aug 17 with 2573 views | itfcjoe |
| Stamp duty reversal on 11:41 - Aug 17 by sparks |
Not demonstrably so- no.
People just wreck their own arguments when they resort to this stuff which makes massive assumptions about people's motivations. |
If that's what you need to tell yourself to tick that Conservative box guilt free then go for it | |
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| Stamp duty reversal on 12:12 - Aug 17 with 2511 views | BrixtonBlue |
| Stamp duty reversal on 11:32 - Aug 17 by sparks |
Thats a very silly generalisation. |
I'd agree it's a generalisation, but not a silly one. | |
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| Stamp duty reversal on 12:14 - Aug 17 with 2498 views | BrixtonBlue |
| Stamp duty reversal on 11:41 - Aug 17 by sparks |
Not demonstrably so- no.
People just wreck their own arguments when they resort to this stuff which makes massive assumptions about people's motivations. |
It is demonstrably. There are lots and lots of Tory policies that can be seen to be benefitting the wealthy to the detriment of the rest. It's not even a debate amongst anyone who knows anything. | |
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| Stamp duty reversal on 12:27 - Aug 17 with 2462 views | Darth_Koont |
| Stamp duty reversal on 12:14 - Aug 17 by BrixtonBlue |
It is demonstrably. There are lots and lots of Tory policies that can be seen to be benefitting the wealthy to the detriment of the rest. It's not even a debate amongst anyone who knows anything. |
Although, they seem to think that it is to the benefit of everyone in the end.
I'm not defending Conservatives either as I think that's the great problem with them. Too many are in this narrow ideological trap where they think what's good for the economy and those leading it - the supposed entrepreneurial wealth creators and/or major employers— is good for everyone.
But that's patently not true. Trickle-down economics doesn't work. The majority may benefit financially from economic growth and low tax but that still leaves whole swathes of people behind if they're in the wrong class, region, industry, community etc. Never mind that this is grossly unjust, that chips away at everyone's long-term security and happiness.
So agree with the overall effect that it is to the detriment of the country and society as a whole but the really frightening thing is how fervently religious and evidence-denying most Conservatives are that this is the One True Path to Happiness and Salvation for All. |  |
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| Stamp duty reversal on 12:37 - Aug 17 with 2405 views | sparks |
| Stamp duty reversal on 12:14 - Aug 17 by BrixtonBlue |
It is demonstrably. There are lots and lots of Tory policies that can be seen to be benefitting the wealthy to the detriment of the rest. It's not even a debate amongst anyone who knows anything. |
You really can't see that making assumptions about people's motivations undermines your arguments? | |
| The presence of those seeking the truth is infinitely to be preferred to the presence of those who think they've found it.
(Sir Terry Pratchett) | | Poll: | Is Fred drunk this morning? |
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| Stamp duty reversal on 12:41 - Aug 17 with 2393 views | footers |
| Stamp duty reversal on 12:37 - Aug 17 by sparks |
You really can't see that making assumptions about people's motivations undermines your arguments? |
Isn't assuming motive and opportunity an integral part of presenting a legal case? |  |
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| Stamp duty reversal on 12:41 - Aug 17 with 2391 views | BrixtonBlue |
| Stamp duty reversal on 12:37 - Aug 17 by sparks |
You really can't see that making assumptions about people's motivations undermines your arguments? |
I'm not making assumptions about people's motivations. I'm talking about what happens in reality. | |
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| Stamp duty reversal on 12:42 - Aug 17 with 2390 views | Freddies_Ears |
Arguably, it reduces the burden on the young (buyers with nowhere to sell) and increases it on the old (sellers who aren't buying, e.g. to fund care home, or simple post-death).
Given current tax breaks for FTBs though, the main impact is to help wealthy people to move up more cheaply. Typical Tory policy, looking after their own. | | | |
| Stamp duty reversal on 12:47 - Aug 17 with 2375 views | sparks |
| Stamp duty reversal on 12:41 - Aug 17 by BrixtonBlue |
I'm not making assumptions about people's motivations. I'm talking about what happens in reality. |
You said it was the reason for being of the conservative party. Which assumes motivations. Which was the point I have made.
If you genuinely believe that the party exists, and that a vast majority of members actively and cynically seek to benefit the wealthy to the intentional detriment of the rest, then you will never be persuasive in arguments ont he subject- because your starting premise is either hopelessly flawed, or hopelessly unevidenced. Or more likely, both. [Post edited 17 Aug 2019 12:48]
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| The presence of those seeking the truth is infinitely to be preferred to the presence of those who think they've found it.
(Sir Terry Pratchett) | | Poll: | Is Fred drunk this morning? |
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