Vince Cable calls for mansion tax in next Budget

[AtW]

Pipe down, Sasguru Jr. They didn't earn it because they bought at far far lower prices and benefited from a massive speculative bubble. Even MF knows this stuff.

So you want to tax people only because they bought some asset that's gone up in price, would you give them tax refund if price of house collapses then?

Well, that's what CGT is for - when they actually realise value by selling it then fine, tax 'em but taxing people whose got paper increase in asset price seems perverse, unless you are champagne socialist.

[BrilloPad]

foreigners who brought in big money - if you piss them off they won't bring it and won't pay stamp duty

Most of them don't pay stamp duty. They buy the houses via offshore trusts. Do you approve of that?

[AtW]

Most of them don't pay stamp duty. They buy the houses via offshore trusts. Do you approve of that?

No, I do not approve of that at all (but I doubt most use loopholes) and it was big suprise to me that for some reason stamp duty was not charged in those cases, that is fair play to crack down on including retrospective tax bills...

[BrilloPad]

fair play to crack down on including retrospective tax bills...

Retrospective taxes will stop foreigners coming here in the first place. I don't want that. I just want them to pay a fair share.

[Freamon]

So you want to tax people only because they bought some asset that's gone up in price, would you give them tax refund if price of house collapses then?

Well, that's what CGT is for - when they actually realise value by selling it then fine, tax 'em but taxing people whose got paper increase in asset price seems perverse, unless you are champagne socialist.

You don't pay CGT on your PPR. Even sasguru knows that.

[AtW]

You don't pay CGT on your PPR. Even sasguru knows that.

So change CGT tax to only allow exemption for "cheap" properties then (even if it's under £2 mln), either way it would be tax on transaction when value is realised not ongoing tax on owning something that was already fully paid for.

[DimPrawn]

AtW you should be aspiring to pay a mansion tax and brag about it to sasguru.

[AtW]

AtW you should be aspiring to pay a mansion tax and brag about it to sasguru.

WHS

Put the champagne on ice ...

[DimPrawn]

WHS

Put the champagne on ice ...

Of course sir.....Your favourite vintage this evening?

[BrilloPad]

AtW you should be aspiring to get a bride who is not mail order and brag about it to sasguru.

FTFY