Tax on land development

[Mustang]

anyway,

what does this matter to you lot, none of you are property developers

Milan.

Nope but I was thinking of putting an extension on my own house. Need to do it before this all kicks in!!

In addition, there is some family land which we are hoping to sell off to a property developer once planning permission is granted. This could scupper that!!

[milanbenes]

lad's you're all looking at this from the wrong angle

this is good

yes it will make new developments more expensive, but there will naturally be new Never Nver products to compensate and as a result of new developments costing more, the price of existing developments/property objects on a like for like basis will rise to the price of the new the market will solve that

therefore you lot have houses worth today's value plus the new tax and that is as you know money for nothing which can be unlocked in equity release schemes and spent on crap you don't need

voila you win

Milan.

[Bear]

Nope but I was thinking of putting an extension on my own house. Need to do it before this all kicks in!!

In addition, there is some family land which we are hoping to sell off to a property developer once planning permission is granted. This could scupper that!!

I've read the consultation doc and it states it won't apply to people doing an extension to their own houses (even if planning is required).

If you get the planning prior to 2009 then you should be fine - anyway don't sell it to a property developer, sell it (or some of it) to me for our self build!!