Stamp Duty

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Moomin said:
Back in 2010 beginning of March me and the missus eventually moved into newly built home. When he sorted the mortage and buying the house in Sept the previous year no stamp duty for houses under 250k. Feb that changed, we had to pay stamp duty and a week after we moved in they bloody got rid of the stamp duty and had no stamp duty for houses under 250k again.

Stung!! Was not happy at all.
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Harsh that lad. There no stamp duty for first time buyers over here up until this year i think. I was alrite with buying in 2008 in that respect but overpaid as the bank crisis and the property crash happened two weeks later ffs!100k down in value although its slowly getting better
 

Blue 1 said:
Credit where it's due this is good from Osborne. Like Labour's mansion tax only more progressive and likely to raise far more revenue.
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This is far more targeted and appropriate than Labour's mansion tax. Their proposal was an annual levy on people simply cos they lived in a high-value house - irrespective of how they came to occupy that house (people could've had the house in their family for generations).

This new stamp duty set-up ensures only those buying a high-value house will have to pay (once) and not all owners.
 
Now that is just weird. Reading this, and the crossword clue I am also doing was "To put ones foot down is a form of duty"

Answer. Stamp. As in Stamp Duty.

*gets coat*
 
roydo said:
Now that is just weird. Reading this, and the crossword clue I am also doing was "To put ones foot down is a form of duty"

Answer. Stamp. As in Stamp Duty.

*gets coat*
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Russian spy codes mate. You've just exposed them Polonium for you pal, I'm afraid
 

Thumbs up from me. The old stamp duty system was a disgraceful moneygrab, especially considering the house price inflation of the last 20 years and how the duty bands have not budged at all in that time.

Don't see how anyone can not be supportive of this change.
 
evilwebby said:
Don't see how anyone can not be supportive of this change.
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Being supportive depends upon whether you end up paying more or less I guess.

The removal of the slab element is a good thing, however the huge increase in the upper level is difficult to stomach.

If I was to move to a similarly valued property as to the one I live in I would see a greater than 60% tax increase from yesterday.
 

Coach said:
Great analysis here:

http://blog.shelter.org.uk/2014/12/4560/

Basically, according to the Tories own figures produced by the OBR it is a move that helps the rich and hits the poor.
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Ignores the fact that stamp duty is paid from cold hard cash, whereas any price increase can be taken into the mortgage and spread out (sure you're paying interest on that increase, but you're not really going to notice it that much over the term of the mortgage).

This move helps to get the initial cost of house-buying down. But of course, you just want to find a way to whinge about everything.
 
I don't think pointing out that this is a regressive move is in any way whinging.

This move merely exacerbates two of the biggest problems with our economy - a false housing bubble and increasing debt.
 
Coach said:
I don't think pointing out that this is a regressive move is in any way whinging.

This move merely exacerbates two of the biggest problems with our economy - a false housing bubble and increasing debt.
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You must have some sort of alert that pings up anything you can use to sh!tcan the coalition. Yet rarely do you offer a point of view on it, or indeed provide any evidence that Labour have policies to the opposite, or in fact anything at all that shows Labour would do a better job. Just saying, like.
 

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