Mansion Tax

[smurfchops]

Can someone please explain this to me in plain English?

[AlwaysConfused]

http://en.wikipedia.org/wiki/Mansion_tax

[factor-fiction]

Which tax plan? Labour's or the Lib Dem's plan?
There is some comment here on Labour's plan
http://www.dailymail.co.uk/news/article-2853524/Fatal-flaws-mansion-tax-Labour-plan-kill-house-sales-trigger-2-billion-slump-stamp-duty-damning-report-reveals.html

[smurfchops]

Thanks !

[buildersmate]

The Labour party, in a continued effort to soak those they see as rich, are proposing an annual property tax on owners of all houses valued more than £2m. The vast majority of these are in London. The annual cost of this might be a few thousand pounds per annum, but a sliding scale would apply.

They forgot, as usual, to look at enough of the detail such that many owners are asset-rich but cash-poor pensioners.


So they now having to rethink and the current scheme might include a deferred payment, after the pensioners have died.

[New Judge]

Yes, and even that is iniquitous.

The idea of imposing a tax just because somebody happens to live in a nice house is outrageous. People laugh when you mention the "window tax". This is just as laughable (if it wasn't so serious).

[Old_Geezer]

If they need more in the coffers then they should raise it from the whole society, each contributing according to how much they got from being part of society, not dump on one, unrelated to the issue grouping, and use them as cash cow victim.

[BRIGHT SPARK]

OG..if they need more then they should stop wasting it!!

[Old_Geezer]

I doubt it is an either/or thing.

Meanwhile maybe the mansion tax isn't necessary if the Stamp Duty has risen so.

[janbee]

I don't think it'll ever trouble me in my little mid terraced Victorian two up two down.