• Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
  • Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!

Homeowners must be taxed on equity in homes to address crisis, MPs told

Collapse
X
  •  
  • Filter
  • Time
  • Show
Clear All
new posts

    #51
    Someone I know officially sold his flat for £300k.

    The buyer then stumped up £200k worth of Bitcoin for the balance.

    That was 5 years ago now, I'm guessing he did very well out of it
    The Chunt of Chunts.

    Comment


      #52
      Originally posted by MrMarkyMark View Post
      Someone I know officially sold his flat for £300k.

      The buyer then stumped up £200k worth of Bitcoin for the balance.

      That was 5 years ago now, I'm guessing he did very well out of it
      Was it in Birmingham, and did you notice anything about the sofas?

      Comment


        #53
        Originally posted by Eirikur View Post
        And nobody answered the question what if you loose equity you buy a house for 300k but because of brexit or another future crisis you can only sell it for 200k will the government pay you? (probably not)
        Obviously not.

        Comment


          #54
          Originally posted by jamesbrown View Post
          Was it in Birmingham, and did you notice anything about the sofas?
          500k 2 bedroom flat 5 years ago in Brum?!
          The Chunt of Chunts.

          Comment


            #55
            Korbyn will solve this problem in two ways:

            1. All property is theft and therefore the state will own all property.
            2. You house will be next to worthless anyway once this idiot is in place.

            HTH BIDI

            Comment


              #56
              Originally posted by MrMarkyMark View Post
              500k 2 bedroom flat 5 years ago in Brum?!
              Hey, it was the posh end, near Sutton Coldfield, and the 200k in Bitcoins was extra, for the Squirrel tree house.

              Comment


                #57
                It's all very simple. Tax the billionaires and the huge corporations that don't pay their "fair share".

                Globally, the 1% that own 50% of the world's wealth - tax them so that they don't own more than, say, 5% of the world's wealth, which is still a ridiculously huge amount.

                Then put in governments that can be trusted to redistribute fairly.

                The middle class aren't the problem, but we are attacked incessantly as if we are.

                Comment


                  #58
                  Originally posted by jamesbrown View Post
                  Hey, it was the posh end, near Sutton Coldfield, and the 200k in Bitcoins was extra, for the Squirrel tree house.
                  Sutton Coldfield is rubbish

                  Comment


                    #59
                    Originally posted by Eirikur View Post
                    What if your house devalues? Would you get a tax return?
                    How do you factor in the money spent on the property to do it up. We've just spent £60k on our place, which we hope has added £60k value. The £60k came out of taxed income, so wouldn't be right to be taxed on this a second time.

                    You'd also have to take into account inflation.

                    After all this, the average home wouldn't be producing much tax income.

                    A much simpler solution is make the seller pay the stamp duty rather than the buyer. All problems solved in one easy step
                    I am what I drink, and I'm a bitter man

                    Comment


                      #60
                      Originally posted by NotAllThere View Post
                      Or maybe it'll just be a percentage of the amount you paid less the outstanding mortage. Declare it each year, hand cash over.
                      You are joking aren't you?

                      So, property worth 200k. Mortgage of £100k so equity of £100k

                      During year pay off £10k. New equity is £110k so get taxed on the increase in equity of £10k

                      This means the house owner has reduced their mortgage from income already taxed, then they are further taxed on that same £10k. Doesn't make any sense at all.
                      I am what I drink, and I'm a bitter man

                      Comment

                      Working...
                      X