OK this heading caught my eye as I wizzed past to work this AM not sure which paper (D. Express maybe) I think we need this as a country like we need a hole in the head. Anyone want to tell me why I'm wrong?
This is ridiculous.I know lets give your average buyer a break by not taxing them 1% of the price so that we can keep the ridiculous asking prices and mortgages a bit longer.Buyers do not need a couple of thousand or so off at the beginning they want cheaper houses!Obviously if you are buying it would be a nice gift but over the 25yrs you are overpaying for a house it is meaningless.This would encourage people who can't afford to buy to try to get on the imaginary ladder only to find they can't afford their mortgage at a later date.Why can't people accept its over ?
Absolutely agree with noddy. Of course no one likes paying stamp duty but we have among the cheapest property taxes in Europe. There might be an argument for delaying payment for a year after purchase to allow you to absorb some of the other moving expenses first because if you're buying a home more than £500k, 4% does sting but I never understand the argument that first-time buyers who are purchasing below £250k are crippled by it.
Actually blonde just had a thought extra tax could easily be made by making all BTL income taxable prior to deduction of any expenses, there's a rich vein there for the tapping I bet! Also the poor non doms....