Stamp duty

[Notch7]

Conservatives are talking about dropping stamp duty for first time buyers upto £425k

It’s an interesting proposal and could boost their votes.

 

[blup]

I suspect we ain't seen nothing yet, the question is whether starmy can hold his nerve

 

[Murdochcat]

Better if they harmonised it with the £450 k limit which is in place for people using LISAs

 

[big-all]

it will be self-defeating as prices will just go up to match

 

[Notch7]

it will be self-defeating as prices will just go up to match

The big 6 house builders are all Conservative donors.

Dropping stamp field duty for first time buyers fuels demand so you could be right.

 

[pete01]

Never had to pay it myself but it is stupid.

(Sorry didn't want to start a thread)

 

[Brigadier]

Never had to pay it myself but it is stupid.

(Sorry didn't want to start a thread)

I saw this in my feed the other day and I have to say, Hannah makes sense.

 

[pete01]

I saw this in my feed the other day and I have to say, Hannah makes sense.

Bit of a con when you think about it.

 

[algas]

Should never have dropped MIRAS, don't know who did it but it was good for !st time buyers

 

[diy_fun_uk]

I saw this in my feed the other day and I have to say, Hannah makes sense.

Lefties don't look at it that way. Lefties will think it's quite right that stamp duty should be paid, after all, you have an asset worth a lot of money, how dare you have such an asset. You are therefore rich and must be financially punished. I expect they would like stamp duty to be higher % wise and lower in terms of property value to ensure more money can go to the work-shy and the illegals.

Stamp duty is disgusting. 'Oh, you've done well enough to manage to buy a property, eh? Ok, we'll take x thousand off you thanks'.

 

[King Billy]

Lefties don't look at it that way. Lefties will think it's quite right that stamp duty should be paid, after all, you have an asset worth a lot of money, how dare you have such an asset. You are therefore rich and must be financially punished. I expect they would like stamp duty to be higher % wise and lower in terms of property value to ensure more money can go to the work-shy and the illegals.

It goes into general taxation and is not ring-fenced for any specific funding.

What is an illegal, anyway?

 

[diy_fun_uk]

It goes into general taxation and is not ring-fenced for any specific funding.

What is an illegal, anyway?

I don't care where the feck it goes, it's a horrible duty, tax, whatever you want to call it.

 

[noseall]

!st time buyers

0% for those houses costing up to £300k

 

[Brigadier]

0% for those houses costing up to £300k

That's only part of the story.

Hannah's point is that stamp duty disincentivises (typically, older folk rattling around in houses that are now too large for them) from selling up, and people from buying those houses.

And, as housing is not in unlimited supply, this top-end choke affects the entire market.