To think people who own more than 3 properties should have a special tax applied to them?

[Calltheguards]

I'm just thinking with the housing crisis, should people really own more than 3 properties? I would assume it's a property portfolio and used to exploit renters. AIBU to think there should be a special tax applied to property owners who own more than 3 properties? Maybe tax them at a really high rate to discourage people from hoarding property.

We already pay tax you idiot.
You sound really jealous

“There are other tax ideas out there like a land value tax...”

You understand this isn’t an idea, but an actual implemented real life tax. Aka Stamp Duty Land Tax.

Do you have any understanding of the existing tax infrastructure relating to property ownership?

@Calltheguards why dont you try actually reading the replies people have given you that explain why your "special tax" idea wont work instead of getting defensive and throwing the abuse accusations out?

Also, for the hundredth time this has been mentioned : LANDLORDS ALREADY PAY A HIGHER TAX FOR MULTIPLE PROPERTIES.

This is sour grapes! The op doesn't care about the 'environental' impact etc..it's jealousy pure & simple. Fwiw I'm annoyed at people getting priced out the market but it's a bigger issue than private landlords who own a few properties

@Calltheguards I'm not engaging with relative questions, I'm mot engaging with people being offended by me, I'm not engaging with 50 people explains the tax paid by landlords, I'm not engaging if I think your question is stupid!!! I'm not engaging on name calling unless I'm calling the names and then can call you a parasite and that's just fine.

I think anyone with a rationale argument you're not going to engage with?

@Calltheguards please don't run for prime minister you'd be fucking worse than the worst!

If every irate poster here owns 4+ properties then no wonder we have a housing crisis ...

@boobirdblue Brilliant response!

To sum up the thread:
OP has a badly thought idea that is filled with gaps and lacks any basic factual research. PPs point this out, OP refuses to engage and accuses everyone of giving her abuse.

I think the thread will soon get deleted.

I think we have successfully established that OP’s “idea” is very much a reality. People with more than one property are penalised via tax. There’s lots of special tax. Presumably OP is now fist pumping the air in delight because the current position is exactly what they want?

Fabulous. I’m off for a cup of tea.

If every irate poster here owns 4+ properties then no wonder we have a housing crisis

Yes, you got us. It's our fault. It's us. We are all properly tycoons. 🤣🤣🤣

If every irate poster here owns 4+ properties then no wonder we have a housing crisis ..

Well good thing i only own 1 property! 😂 Op, do a little research on the houseing crisis...

If every irate poster here lacked the basic understanding of both the existing tax infrastructure in this country and the economy as the OP does we really would be in trouble!

Just told DH about this thread. He's proposing people who rent should pay a special tax.

Just kidding.

If every irate poster on here had as little knowledge about this subject as the OP does then we would have some serious issues.

Is there any special saving program for kids? Where I grew up parents start saving account for child as soon as it's born and kid can get it at 18. If parents save £1 a week the child would get over 4.5. Some get it, some move it to something like help to buy ISA for few more years. Mind me the amount is nowhere near to 4.5k where I grew up, more like 1k at best but it still helps towards things like deposit.

I say again. It would be better to help people better their lives, than making others worse. Don't aim to lower people to same level. Aim to raise them to same level.

Yeah. Great plan. And anyone daring to save their money should have some of it taken away and give to poor people who can’t be arsed saving. That would be fair, wouldn’t it?

@TheAverageJuror JISAs and LISAs

@boobirdblue thank you!

I'm with Bluntness. Again! sigh...
I'll bring my own bench. Then you can rent a space on it

That would be fair, wouldn’t it?

Of course it would be fair because how dare those people who worked hard to save their money be allowed to spend it as they wish? Those low earners must be given some otherwise how will they ever save their own money? 🙄

Selma, plenty of 🍿 to go round,,,

You have to ask yourself whether you want to live in a society where a small proportion of people own all the property. It generally doesn't work out well, and not wanting this to happen is not necessarily motivated by jealousy. The expansion of buy to let in this country has not been great for society, but thankfully the tax incentives have just about come to an end, so anyone who thinks it's still a great way to leverage yourself and make money are probably going to be disappointed.

You have to ask yourself whether you want to live in a society where a small proportion of people own all the property

Well that's clearly not the situation we live in is it. In England alone 65 percent of the population own their own homes.

BTL has been dropping for years btw.
2018
www.google.com/amp/s/www.telegraph.co.uk/investing/buy-to-let/tax-mortgage-crackdown-cuts-buy-to-let-investment-80pc/amp/

And another 8% in 2019.
Many are offloading already but it has no effect on prices. The recent drop in certain areas was caused by Brexit uncertainty.