Mansion tax

[AtW]

You know that thing Miliband was talking about? Osborne was so much against it, bad bad tax on wealth, properties etc etc.

Now check this out - he actually introduced it himself, on properties which were bought by companies (which is a sensible thing to do for any wealthy person who does not want his name seen in Land Registry):

Property value Annual charge
More than £1 million but not more than £2 million : £7,000
More than £2 million but not more than £5 million : £23,350
More than £5 million but not more than £10 million : £54,450
More than £10 million but not more than £20 million : £109,050
More than £20 million : £218,200



Source: https://www.gov.uk/guidance/annual-t...ngs-the-basics

[MicrosoftBob]

It could have been worse, he could have introduced a squirrel tax

[AtW]

It could have been worse, he could have introduced a squirrel tax

[DimPrawn]

It was introduced as wealthy people would buy a mansion for themselves, but through a company, therefore no stamp duty to pay. So it's an avoidance measure.

[AtW]

It was introduced as wealthy people would buy a mansion for themselves, but through a company, therefore no stamp duty to pay. So it's an avoidance measure.

But no stamp was required on sale of offshore company (which owner property) shares, so no need to pay any stamp duty tax, all fair it seems to me.

Maybe he should have banned offshore company ownership of UK residential property? Oh no, we can't have that...

Original stamp duty was 1% one off, Osborne effectively introduced mansion tax by back door - he should not have increased stamp duty massively.

[DimPrawn]

Vote Korbyn, your worries about rich people and mansions will be over.

You can look from a distance at the party officials in their state palaces instead, Komrade.

[AtW]

Vote Korbyn, your worries about rich people and mansions will be over.

And what exactly worse will Korbyn do than Tories have already done?

I've caught myself thinking recently that even dividend tax is now high enough that if it's pushed a bit further then it would make sense to pay higher salary to have 0 profits, and thus no corp tax.

By the time Osborne finishes fooking about with the tax system there will be no scope left for Korbyn to do anything.

[Troll]

And what exactly worse will Korbyn do than Tories have already done?

I've caught myself thinking recently that even dividend tax is now high enough that if it's pushed a bit further then it would make sense to pay higher salary to have 0 profits, and thus no corp tax.

By the time Osborne finishes fooking about with the tax system there will be no scope left for Korbyn to do anything.

Ahh but Corp tax is optional .....allegedly

[vetran]

It could have been worse, he could have introduced a squirrel tax

that would have been nuts!

[vetran]

And what exactly worse will Korbyn do than Tories have already done?

Imagine Gordon back knowing that Gideon got away with so much!