Mansion Tax at £1.5m - what will this mean?

[MaureenOHara]

Does anyone have any idea what this might mean for an individual and what it might do to the market. What happened to the £2m market and will that be replicated or is it different?

Those broad dog shoulders and all that.

As pp said - not doing work that would increase the value, not moving up the ladder

Unless, of course, he's feeling a bit anxious

I think we need to address the cat issue - strutting around like they own the place - well yeah, 15 mins shitting in my garden means you’re liable for 1% of the mansion tax

He’s a big bugger.

Lots of added value.

I am very fond of my gold bars. We have been together for 30 years, during which time the have increased in value from £200 to £3200 per ounce. Just due to asset price inflation with no skill or effort on my part. How dare anybody suggest that I should part with any of them, or that they should disqualify me from any aid available to people like me who have no money and are living in poverty.

If I sold any I would have to pay some tax, surely you agree that would be unfair?

Mind you, he did look a bit depressed this morning when told he can’t have a biscuit because he’s been getting a bit chubby.

Off to give DWP a call!

As, for example, if anybody suggested that I should sell some of my gold bars, or take out a loan secured on them, since I cannot bear to be parted from any of them.

You are boring me.

My dog’s debating skills are more advanced.

The gold bar thing is not nearly as clever as you think.

There are millions of people who bought stability, not wealth. People who live modestly, drive old cars until they're uneconomical to repair, save rather than spend and stay in the same home for decades... But let's not acknowledge that there are many different types of homeowner. Apparently, differentiation and individual circumstances only matter when we're talking about people receiving benefits.

Perhaps save some of your ire for the incompetence of successive governments and their bait-and-switch politics. I am pretty sure people were told to "Work hard, save, buy a home, live within your means. make sacrifice today to ensure there is enough for tomorrow. Basically try not to be a burden on the state. And your reward? What you have built is now redefined as “un earned wealth” or “asset hoarding”. The solution an unreasonable, disproportionate tax to put you in your place.

Why bother.

Doesn't need to be.

Just put a coherent argument together saying why the value of assets should be ignored,

Thanks for the reminder. It has shoulders and haunches, all the better for bearing even more tax. 😂

Exactly. It’s people just working, costing the state less. Enough with the appropriation idea.

There are so many dependent on the state, those that who are not can’t be continually penalised.

@PigletJohn - you can sell your gold bars bit by bit under the CGT annual threshold. Which is what any sane person would do. It is exactly why people are buying gold and Rolexes and art again, movable, sellable et al and away from big brother.

The government increasingly seems to prefer a parasitic relationship with taxpayers and homeowners rather than a symbiotic one.

Just the shoulders, thank you very much!

He’ll need an enhanced PIP rate for his depression if you keep body shaming him.

And then who will we have to tax?

The vet business is definitely thriving and the margins are great aren’t they. Just wondering when they will be cracking down on that one for symbolic effect.

Too late for that, the interest rate rises and COL have put a natural brake on those behaviours, most of the public wouldn"t be able to stop their "ladder climbing" behaviour if their life depended on it, it is a disease, the cure is much higher interest rates.

Put a coherent argument as to why owning a home, which is essential item, should be more heavily taxed that owning shares which are a wealth creation asset?

Please put a coherent argument together to explain that contradiction first.

I wouldn't call the many people who grew up with housing instability who prioritise owning a home suitable for the needs ladder climbing behaviour. Do you only know feckless and selfish, superficial people?

You have a very distorted view of the UK.

There is a review underway.

Yes of course there is a “review” and if there is real profiteering on vets/dentists etc via private equity then fair enough. But let’s not forget that a few dentists and vets doing their jobs are essentially good little citizen middle class professions. So more sitting ducks for the taking ultimately.
Let’s just ignore the AI and tech bonanza, oil&gas prices and banks profiteering on interest rates shall we. Because that is where the government cashes in on tax is it.
The former is just for votes.

Well... If you can afford to keep a dog and pay vet bills you clearly have more than you need. There are people out there who cannot afford a healthy dog let along an expensive one...

Angela has done so great with housing, I am sure she will have just tax...

@NorthXNorthWest * *Today 12:47

Shares are also assets.

Best not tell your dog Rayner thinks she’s scum if she doesn’t cough up.