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Own your property outright? CPIH should worry you

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    #11
    Originally posted by eek View Post
    why do you think you will only pay deemed rent if the mortgage has been paid off?
    "Fairness", or really to avoid upsetting too many voters.
    Work in the public sector? Read the IR35 FAQ here

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      #12
      Originally posted by original PM View Post
      Over my cold dead body
      Me too, but property is a soft target - You can't very easily hide it!

      you cannot penalise people for buying something.
      Like with 20% VAT for example?
      Work in the public sector? Read the IR35 FAQ here

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        #13
        Own your property outright? CPIH should worry you

        Originally posted by original PM View Post
        Over my cold dead body

        The reason many people work hard and forgo luxuries to pay their mortgage off early is so that they can reduce any overheads they have for when they retire...

        Also how is this going to work for those people who paid off their mortgage but have saved nothing else and so live off the state pension.

        For anything other than a primary residence then yes it has mileage but you cannot penalise people for buying something.
        Some would argue working hard to pay thruppence ha'penny was a gift not afforded to today's young;

        https://www.theguardian.com/money/20...operty?0p19G=c
        http://www.cih.org/news-article/disp...housing_market

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          #14
          Originally posted by original PM View Post
          For anything other than a primary residence then yes it has mileage but you cannot penalise people for buying something.
          When there is a finite supply you should try to make sure there is some fairness.

          Imagine if the food supply was cornered. Life would get unpleasant quickly.

          One day housing unpleasantness will arise. But probably not in my lifetime.

          Comment


            #15
            Originally posted by eek View Post
            Given how insane council tax rates are due to being 30 years old (one I'm looking at is Council Tax F - on sale for £300,000) something needs to be done.

            Not sure rates is the solution for this is what is being talked about...
            yep its ridiculous ours went down when we moved (our new house is 50% bigger and in a cul de sac not a main road).

            Funny thing is they actually charge more to live in the Britwell (Slough's sink estate) than in my village.
            Always forgive your enemies; nothing annoys them so much.

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              #16
              Originally posted by PurpleGorilla View Post
              Some would argue working hard to pay thruppence ha'penny was a gift not afforded to today's young;

              https://www.theguardian.com/money/20...operty?0p19G=c
              Yes but if you take out a mortgage at 25 over 25 years the assumption is it will be paid off by the time you are 50 - unless you decide to keep remortgaging.

              And that is the same now as it was then.

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                #17
                It'll be worth listening to the Chancellor's statement on Wednesday to see if there is any hint of this deemed rent.
                Work in the public sector? Read the IR35 FAQ here

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                  #18
                  Sounds like a very Socialist policy. I don't think it'll happen - not in such a form anyway because it discourages prudence, unless of course the government want exactly that. And then what's to stop outright owners from remortgaging and spending/stashing/investing the cash then.

                  An 'empty house' tax is certainly far more sensible and socially acceptable.

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                    #19
                    Originally posted by ChimpMaster View Post
                    Sounds like a very Socialist policy. I don't think it'll happen - not in such a form anyway because it discourages prudence, unless of course the government want exactly that. And then what's to stop outright owners from remortgaging and spending/stashing/investing the cash then.

                    An 'empty house' tax is certainly far more sensible and socially acceptable.
                    and a rebanding of council tax.
                    Always forgive your enemies; nothing annoys them so much.

                    Comment


                      #20
                      Originally posted by ChimpMaster View Post

                      And then what's to stop outright owners from remortgaging and spending/stashing/investing the cash then.
                      Good point, unless this supposed tax was pitched less than the interest payable on a mortgage, or remortgaging itself is taxed.
                      Work in the public sector? Read the IR35 FAQ here

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