Ooooh! SNP Raise Stamp Duty!!

Ooooh! SNP Raise Stamp Duty!!

Author
Discussion

Hollowpockets

5,908 posts

215 months

Friday 10th October 2014
quotequote all
Jon666 said:
Swinney's message is clear - "if you're well off you can fk off". Next will be higher rate of income tax. Every well off person and corporate head office will then make the obvious choice and locate in England.
yup, until Westminster decide to follow suit to claw back some money.


Soupie69uk

922 posts

216 months

Friday 10th October 2014
quotequote all
I preferred the look of the other system which was suggested previously.

£180k no stamp. Anything above was 7.5%

I people buy more expensive houses at least they will still feel that they are on the same rate as a lot of others. I do agree if someone is buying a more expensive house they pay more tax but the 10% and 12% is a bit high I feel and will put of people buying £750k+ houses in Scotland at that price bracket.

MintyChris

848 posts

191 months

Friday 10th October 2014
quotequote all
Dont worry about it, it's all for the good of the Scottish people. Just like the average speed cameras on the A9 and minimum alcohol pricing...

Maybe they expect to make more money from these changes so they can help all the people in poverty and at the food banks. You know...the ones they repeatedly banged on about during the Independence campaign, yet havent bothered to help in any way in all the years they've been in power...Good one.

Dr_Rick

1,592 posts

247 months

Friday 10th October 2014
quotequote all
Hollowpockets said:
Is this a joke?

I'd better get my finger out and buy something before March
That's all very well, but what happens when you want to sell later down the line? Do you reckon there's going to be buyers willing to spend the extra to furnish the Holyrood coffers then?

m3coupe

1,104 posts

203 months

Friday 10th October 2014
quotequote all
Soupie69uk said:
I preferred the look of the other system which was suggested previously.

£180k no stamp. Anything above was 7.5%

I people buy more expensive houses at least they will still feel that they are on the same rate as a lot of others. I do agree if someone is buying a more expensive house they pay more tax but the 10% and 12% is a bit high I feel and will put of people buying £750k+ houses in Scotland at that price bracket.
I genuinely don't understand that reasoning. Why because you earn more money and have more to spend should you pay a higher rate of tax? I'm not a millionaire but don't see why I should pay less than someone who is and vice versa.

Hollowpockets

5,908 posts

215 months

Friday 10th October 2014
quotequote all
Dr_Rick said:
That's all very well, but what happens when you want to sell later down the line? Do you reckon there's going to be buyers willing to spend the extra to furnish the Holyrood coffers then?
Not looking for a stop gap, looking for a home for life that I'll own and keep in Aberdeen even if I move on with work or otherwise

Jon666

118 posts

125 months

Friday 10th October 2014
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I've also never understood why moving home should be a taxable event. If I wish to move home every few years (and keep various related industries in business) why should I pay multiple lots of stamp duty. Is there any other resellable item that attracts a fresh tax bill every time it changes hands?

Craigie

1,223 posts

178 months

Friday 10th October 2014
quotequote all
90% of what you buy will incur VAT.
New cars also have a separate tax still dont they? Up to £1000 depending on emissions? And VAT as well?

FastNReliable

308 posts

178 months

Saturday 11th October 2014
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The mansion hopping mega rich demographic will be furious!

hornetrider

63,161 posts

204 months

Saturday 11th October 2014
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Dinoboy said:
Yeh, that's what I was thinking. 2% of £115k is £2300 plus 10% of £25k = £4800.

House price of £324k is the cut off point where the old system paid the same as the new one.
Any more than that and you'll be worse off.

Edited by Dinoboy on Thursday 9th October 19:17
Don't get me wrong I hate the fking SNP but this system sounds great and is exactly the type of policy we need down here, perhaps with slightly different thresholds.

Easty-5

1,423 posts

189 months

Sunday 12th October 2014
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We get the keys to our new build house on April 3rd 2015. Does that mean the new taxes will apply to us? I am hoping so as it will save us almost £1700.

northnoble

362 posts

185 months

Sunday 12th October 2014
quotequote all
FastNReliable said:
The mansion hopping mega rich demographic will be furious!
You don't need to be "mega" rich to get caught by this......bottom line it will impact most as house prices will be impacted.....both above and below. Houses below will become more expensive and houses above less so!

GoneAnon

1,703 posts

151 months

Monday 13th October 2014
quotequote all
People sobbing about a few £K extra on the cost of their half million pound homes.


For most people this is a good change.


Average speed cameras on the A9 are NOT a good thing.

Dryce

310 posts

131 months

Tuesday 14th October 2014
quotequote all
GoneAnon said:
People sobbing about a few £K extra on the cost of their half million pound homes.
It rapidly becomes more than just a few £K extra - and the impact on the market isn't the amount of tax relative to the cost of the house but relative to the deposit.

It doesn't take much to unsettle the markets - just a few % of people sitting tight in houses at say £300K when they might otherwise move up the market can cause price shifts.

GoneAnon said:
For most people this is a good change.
The fact that it won't directly impact the majority of people doesn't automatically mean it's a good thing.





Hollowpockets

5,908 posts

215 months

Tuesday 14th October 2014
quotequote all
Dryce said:
The fact that it won't directly impact the majority of people doesn't automatically mean it's a good thing.
Correct, the top 1% high rate tax payers contribute around 30% of all taxes collected, probably the last 1% of the tax paying population you want to ps off.

Soupie69uk

922 posts

216 months

Tuesday 14th October 2014
quotequote all
m3coupe said:
I genuinely don't understand that reasoning. Why because you earn more money and have more to spend should you pay a higher rate of tax? I'm not a millionaire but don't see why I should pay less than someone who is and vice versa.
I did not say higher rate. I said you pay more overall, this could be on the same rate.

Dryce

310 posts

131 months

Tuesday 14th October 2014
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Hollowpockets said:
Correct, the top 1% high rate tax payers contribute around 30% of all taxes collected, probably the last 1% of the tax paying population you want to ps off.
Or possibly these people are actually distorting asset prices.

There's a fixation in the modern world on money that seems to magically make more money.

This is one of the reasons that people are not necessarily paid in proportion to the real work they actually do.

And yet we are supposed to be be beholden to them?



Hollowpockets

5,908 posts

215 months

Tuesday 14th October 2014
quotequote all
I think that's always been there, it's just well exposed nowadays. I'm not saying it's fair, but history shows these people will leave and go elsewhere if taxed too much or a better offer turns up for the same job in another big city.


bigblock

772 posts

197 months

Tuesday 14th October 2014
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I think the housing market will adjust itself to take account of the new tax rate.

A combination of sellers having to reduce their asking price to accommodate buyers reluctance to pay the increase in tax. A compromise on both sides will probably be required but I don't see it having as dramatic an effect on the housing market as some have claimed.




McWigglebum4th

32,414 posts

203 months

Tuesday 14th October 2014
quotequote all
Hollowpockets said:
I think that's always been there, it's just well exposed nowadays. I'm not saying it's fair, but history shows these people will leave and go elsewhere if taxed too much or a better offer turns up for the same job in another big city.
the SNP want all the rich to fk off out of scotland