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Original poster

Labour’ proposing a new property tax

62 replies

littlebilliie · 25/08/2025 16:37

I’ve mulling over the “floated” new property tax, they plan to abolish stamp duty and tax on the sale in fact, adding capital gains to principal properties.

also to introduce an annual new tax on properties of £500k and above.

Labour is really going come unstuck as property as in the UK this is one of the cornerstones of financial stability. This could be a real Truss moment for Labour.

If there’s a sudden new tax on selling properties we may see the movements of property slowing down considerably.

Elderly homeowners could be discouraged from selling at this point as they may be moving through different properties as they downsize into sheltered accommodation and then into a care home this could completely slow the whole market down and an obstacle to sale.

Also if it’s perceived that property below £500k isn’t going to be taxed we could see an absolute rush to buy those properties which of course would increase demand and increase the value.

Any thoughts on this?

OP posts:
MickGeorge22 · 25/08/2025 17:12

Will they be taxing but to let landlords multiple times for each property?

Rhaidimiddim · 25/08/2025 17:09

littlebilliie · 25/08/2025 16:37

I’ve mulling over the “floated” new property tax, they plan to abolish stamp duty and tax on the sale in fact, adding capital gains to principal properties.

also to introduce an annual new tax on properties of £500k and above.

Labour is really going come unstuck as property as in the UK this is one of the cornerstones of financial stability. This could be a real Truss moment for Labour.

If there’s a sudden new tax on selling properties we may see the movements of property slowing down considerably.

Elderly homeowners could be discouraged from selling at this point as they may be moving through different properties as they downsize into sheltered accommodation and then into a care home this could completely slow the whole market down and an obstacle to sale.

Also if it’s perceived that property below £500k isn’t going to be taxed we could see an absolute rush to buy those properties which of course would increase demand and increase the value.

Any thoughts on this?

Capital gains tax on one's residence will also eat into the amount available to people to pay for care when they're elderly. Resulting in a bigger bill for the state down the road.

Unless assisted dying takes off, like it has in Canada.

Lifeinthepit · 25/08/2025 17:06

dogcatkitten · 25/08/2025 17:03

The whole thing is only a labour thought bubble at the moment, no detail and may very well not happen at all.

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But they've had 14 years to work out a plan. How odd that they seem to be governing on the hoof with no clear idea of what to do....

dogcatkitten · 25/08/2025 17:03

Lifeinthepit · 25/08/2025 17:01

For how long?

Show quote history

The whole thing is only a labour thought bubble at the moment, no detail and may very well not happen at all.

Getamoveon2024 · 25/08/2025 17:03

WowIlikereallyhateyou · 25/08/2025 17:00

From what I read, if you have recently paid stamp duty you will be exempt.

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Labour will not take the opportunity to tax us twice? Well, more than twice since I’m paying that stamp duty with already taxed income.
I hope you’re right but I can’t imagine it!

Lifeinthepit · 25/08/2025 17:01

WowIlikereallyhateyou · 25/08/2025 17:00

From what I read, if you have recently paid stamp duty you will be exempt.

Show quote history

For how long?

SimoneHere · 25/08/2025 17:01

I feel like everything left to be said in this was discussed on last week’s threads. Has there been any “new news” on it recently?

WowIlikereallyhateyou · 25/08/2025 17:00

Getamoveon2024 · 25/08/2025 16:51

We are just about to move and pay a metric fuck ton of stamp duty. Anyone want to bet that that WON’T be taken into account if they do scrap stamp duty and create some new tax???
It’s legalised theft but I wouldn’t mind so much if it wouldn’t just be pissed away.

From what I read, if you have recently paid stamp duty you will be exempt.

Tiredofwhataboutery · 25/08/2025 16:59

littlebilliie · 25/08/2025 16:52

Also all those properties in “Trust” for their family are going to have a nasty shock when the trustees have to pay this tax

Will they have to pay though? There are houses in wrappers of ltd companies to dodge stamp duty. Essentially you buy and sell a company but the house remains owned by the same company so any capital gains won’t be realised . I’d assumed trusts would be similar.

Original poster
littlebilliie · 25/08/2025 16:52

Also all those properties in “Trust” for their family are going to have a nasty shock when the trustees have to pay this tax

OP posts:
Getamoveon2024 · 25/08/2025 16:51

We are just about to move and pay a metric fuck ton of stamp duty. Anyone want to bet that that WON’T be taken into account if they do scrap stamp duty and create some new tax???
It’s legalised theft but I wouldn’t mind so much if it wouldn’t just be pissed away.

Lifeinthepit · 25/08/2025 16:40

Usual Labour theft. It's not their money. And it will be spaffed at the government of Mauritius who have lowered the taxation of their own people as a result of the nice income being received from us.

Labour need to start cutting spending properly although it's possibly too late for the country now.

I did love Dominic Cummings' description of our Chancellor as "Non functioning" although would prefer it not to be true, really.