Read in several papers today
 

that new labia are planning to introduce CGT on primary residence. That cnut lewis was right when he said the housing market was going to collapse :rolleyes: - Followed closely by the rest of the economy no doubt. This is a 9 billion quid a year stealth tax. That will allow GB to continue his money wasting spree for as long as he likes :eek:

I would be carefull how loud you complain. As you may be locked up without charge, if it affects the economy sorry I meant to say security of the UK.

I was thinking just that - They know they couldn't get away with this, so they introduce the 'national security' (throw anyone who complains in jail) bill first. 6 months later, they kick into this, with no worries about the backlash that happened to poll tax, cos they can now throw the complainers in jail :(

They will say "we are not going to introduce 40% CGT on primary residence".
Then charge it at say, 35%.
Therefore "we didn't mislead anyone".
Remember, NI isn't income tax.

If we had enough prisons they could because the ones we do have are bursting at the seams, some with 90% more inmates than they were designed for, also read in various papers....

If it stops people banging on and on about how much they bought their house and how much it's worth now, then I'm all for it.

The biggest issues are: a) what rate, and b) what threshold.


M

See you in the Tower!

Les

The Tower still belongs to the Queen I think, so Tony will have to bang us up in number 10 instead! :D

He will be able to spend spend the first years income building enough prisons to keep us all in. If it is applied the same as a second property, the profit gets added to your normal income, and the total is used to define your tax bracket, so most likely 40%. No threshold - 40% of everything you make. They may allow some sort of taper relief, but this would cut down the income for them, and they really need to make at least an extra 10 billion a year

wont happen (not in the sense that all they will do is remove primary residence relife)...if it does happpen it will be very watered down

Tiggs got your head in the sand as usual. You just don't get it do you?

:rolleyes:

Does this mean that if prices go down we can claim tax relief / rebate / use the loss to offset our tax bill?

Thought I remembered something like that from 20 years ago...

no...i have a good idea about the pros and cons of CTG on property.....i dont belive they will remove prim. residence relife and leave your home exposed to CGT in the way suggested here.

"head in the sand" ???? my head is never in the sand...i either care about an issue or i dont....stuff like GPS monitors on cars to bill per mile...i dont give a toss about that, this issue i do care about and my opinion is it wont happen.

you need to sit down for a while? take on board that there is a different opinion out there to yours?

T

Tiggs, for a "smart" IFA, its a bit bloody scary you can't spell "relief" (twice) ...

luckie for me that my job isnt depondant on being abel to spell.

Even if they are just thinking about introducing a 40% tax on profit from any house sale, it is scary!

The thing is, they will introduce this if they get in for another term.

They are socialist scum and the majority of the general public walk around with blinkers thinking the Cons can do no better not knowing what damage this government has done and is doing.

I want to buy a place soon, but what is the point! I suppose I'll be able to get a good deal when people decide to sell up before this is passed......

good idea.....dont buy because prices are too high....a crash is on the way......CGT is pending..etc, etc, etc

meanwhile you will watch as prices just plod upwards...tax free.

It was a rhetorical question due to my dismay.

The question is, will the market continue to rise with a bomb shell like this hanging over the market.

House prices of course will rise long term, and those fortunate to buy when they did and see the price increase at the rate that it has is fantastic.

The thing with this is that you will only realise a tax free profit on that rise before this law is passed. Otherwise you'll be paying 40% over to Gordon.

If labour get in for another term this will come into effect whether it is at 40% 30% or 20%. It is just plain wrong!

House prices as they stand are forcast to rise by 3% this year and drop by 2% next year.

As it has been said before, when house prices fall and people are in negative equity and have to sell, would the government pay their shortfall! I think not.

I will be buying as soon as possible, but I don't see why Labour feel the need to introduce yet another tax upon us.

We really are heading back to the days of "Will the last person please turn out the light". And that will include a lot of two faced Labour voters who put them back into power.

the CGT issue has been around for ages and prices still rise......if the avarage house price is 1% gain over the next 24 months i would be amazed...where are your figures from?

the CGT on house prices just wont happen anyway (not in the way suggested here)

House £200k
Fixtures and fittings £100k
Smile due to CGT avoidance : priceless.

Who will be able to give the true 'value' of a house for tax purposes so that you can decide whether or not to sell? That way madness lies.

"Your Mortgage" or something like that - a magazine the girlfriend bought.

The facts suggested here :rolleyes: are being reported from press releases from your Labour party! your right it will probably be 45% to 50% by the time they have finished.

Unclebuck was right

where is there a labour press release saying they will even CONSIDER CGT on homes??

http://www.timesonline.co.uk/article...522980,00.html

and "my" labour???? i have never voted in my life and doubt i ever will.......i have no interest in politics.

Their manifesto stated they would not increase NI. They did!

Sorry your views posted here, led me (wrongly) to believe you stood by your convictions.

They lie through there teeth at every turn. Just because they deny it now, does not mean that it will not happen in some form in the future.

If you have no interest in politics why post in a politically inclined thread.

I'm sick to the back teeth of all these hidden (stealth) taxes going through seemingly un-noticed. It's rediculous the amount of money middle Britain is paying directly and indirectly in taxes under this government.

If it was spent well I wouldn't mind so much, but it isn't.

They would tax pubic hair if they thought they could get away with it!

so in two posts you have gone from:
"The facts suggested here are being reported from press releases from your Labour party"

to

"Just because they deny it now, does not mean that it will not happen in some form in the future"

Rather different things arent they?

I post because the issue of CGT on my (our) homes has an impact on me...doesnt matter whether its brought in by labour, tory or little green men.....my views are not "political"...they are common sense.

T

ohh...and stand by my convictions???? what convictions are you talking about to suggest i dont?

Apathy reigns then Tiggs!

Les :rolleyes:

Sorry I was wrong, there is no information anywhere that outlines any of their policies, just a load of statements about what they think they have achieved!

http://www.labour.org.uk/ourpolicies

(If you can find any please point me in the right direction)

We'll see tomorrow what the budget brings, I really do hope it is media hype.... we'll see. So yes I stand corrected (was not a press release from labour directly).

http://www.number-10.gov.uk/output/Page7330.asp

Whether you know it or not you do have an interest in politics, the fact that you don't vote in my eyes means that you don't stand by your convictions/political stance!

"i have never voted in my life and doubt i ever will.......i have no interest in politics"

Labour introduce taxes like this all the time (They are taxing private pensions - WTF is that all about) and it would not suprise me if they do this as it has been reported they intend to do.

i have an interest in my pet dogs...but i dont go to Crufts.

my political interests are very, very small.....i will do fine under any of the current choices of goverment so i have no need or desire to vote.

and CGT on homes is not happening.

T

famous last words , and why won't it happen ??
as was said in a past discussion , " that's what the fox hunters said "
tony " i don't care " blair has done whatever he has wanted to do , even if the majority of people disagree , so why stop now ??

The next quite tax that will be creeping in is revalue of houses for council tax

just starting it low key near me with a friends house set at 65K in 1991 now gone up to 235 k and a


e banding and another £500 to pay for your bin emptyed and a copper driving past every 17 months !!!


lets start the protests now


yet the Govt spend years talking about stupid foxes

it wont happen because its politically stupid....fox hunting is fine because most ppl are happy to see it go....VERY different thing.



anyway...come on here tommorow and said "you were right" then we can worry about it!