Ooooh! SNP Raise Stamp Duty!!
Discussion
GoneAnon said:
I don't actually have a hatred of bankers but do think some of them have behaved disgracefully, and continue to do so.
As for the dedicated wee souls skipping lunch and tea-breaks, working late and thinking about work after hours, I have to do all that too as do many, many other people on ordinary earnings.
After bonuses were capped at 100% of salary (or 200% with shareholder approval( the bankers cunningly disguised the payments as "allowances" so they could maintain their gravy train, largely at tax-payers expense.
Now that that wee deal has been banned as well, will they just double the salaries and see them all slope off home at 5pm?
They might do. I'm not sure what your point is here, beyond a rant against bankers.As for the dedicated wee souls skipping lunch and tea-breaks, working late and thinking about work after hours, I have to do all that too as do many, many other people on ordinary earnings.
After bonuses were capped at 100% of salary (or 200% with shareholder approval( the bankers cunningly disguised the payments as "allowances" so they could maintain their gravy train, largely at tax-payers expense.
Now that that wee deal has been banned as well, will they just double the salaries and see them all slope off home at 5pm?
Do you have a solution to the perceived ills, or are you merely a moaner with no understanding of how to make the situation better?
GoneAnon said:
I don't actually have a hatred of bankers but do think some of them have behaved disgracefully, and continue to do so.
As for the dedicated wee souls skipping lunch and tea-breaks, working late and thinking about work after hours, I have to do all that too as do many, many other people on ordinary earnings.
After bonuses were capped at 100% of salary (or 200% with shareholder approval( the bankers cunningly disguised the payments as "allowances" so they could maintain their gravy train, largely at tax-payers expense.
Now that that wee deal has been banned as well, will they just double the salaries and see them all slope off home at 5pm?
Could of fooled meAs for the dedicated wee souls skipping lunch and tea-breaks, working late and thinking about work after hours, I have to do all that too as do many, many other people on ordinary earnings.
After bonuses were capped at 100% of salary (or 200% with shareholder approval( the bankers cunningly disguised the payments as "allowances" so they could maintain their gravy train, largely at tax-payers expense.
Now that that wee deal has been banned as well, will they just double the salaries and see them all slope off home at 5pm?
McWigglebum4th said:
GoneAnon said:
I don't actually have a hatred of bankers but do think some of them have behaved disgracefully, and continue to do so.
As for the dedicated wee souls skipping lunch and tea-breaks, working late and thinking about work after hours, I have to do all that too as do many, many other people on ordinary earnings.
After bonuses were capped at 100% of salary (or 200% with shareholder approval( the bankers cunningly disguised the payments as "allowances" so they could maintain their gravy train, largely at tax-payers expense.
Now that that wee deal has been banned as well, will they just double the salaries and see them all slope off home at 5pm?
Could of fooled meAs for the dedicated wee souls skipping lunch and tea-breaks, working late and thinking about work after hours, I have to do all that too as do many, many other people on ordinary earnings.
After bonuses were capped at 100% of salary (or 200% with shareholder approval( the bankers cunningly disguised the payments as "allowances" so they could maintain their gravy train, largely at tax-payers expense.
Now that that wee deal has been banned as well, will they just double the salaries and see them all slope off home at 5pm?
Anyway, there are more entrepreneurs out there than bankers, are you suggesting the entrepreneurs should suffer because of a minority 'banking' don't work quite hard enough for your liking? Ridiculous... Just like saying the wealthy should pay disproportionately more than the average person.
I think your view on this is a tad bitter twisted
GoneAnon said:
Those same bankers then see their employer go bust, receive a huge bailout from taxpayers across the world (not just the UK), and then insist they STILL deserve their big salary and bonus or they will go elsewhere. Those people aren't risking their own capital so are NOT entrepreneurs, they are employees and should be paid as such. Instead, we give them all the upside and let taxpayers take the downside. Iceland sent theirs to jail!
So when i said the SNP want all the rich to f
k off out of scotland you disagreedSo you want them in jail instead
I didn't say it, but whoever did was spot on. All they can think about is redistributing wealth and have come up with nothing about creating it. It'll be interesting to hear what they have to say about the oil revenue now that a bit of reality has kicked in following the price drop after misquoting Prof Alex Kemp all through the campaign.
Not siding with anyone in particular here.
Will give some facts on the topic on the basis I am in a sector which it affects!
6,000 of the 7,900 properties sold in Edinburgh within the last quarter would have benefitted from the new tax system by Rettie's calculations.
£324,000 is the breakeven point where any property purchased over this level, and then you pay more under the new system than you would have under the old.
Essentially it will benefit first time buyers in larger cities like Edinburgh and Aberdeen and some second time buyers.
In other areas, third and even fourth time buyers may benefit.
Knight Frank were inundated with requests to accelerate sales.
The general public are panicking out of fear and a lack of understanding and are driving prices up currently, potentially above what the realistic increased tax level would be, if they waited until next year.
On a commercial basis, it may affect investors who are more worried about the cost to build and develop in Scotland.
Some facts on the topic which may be of interest.
Will give some facts on the topic on the basis I am in a sector which it affects!
6,000 of the 7,900 properties sold in Edinburgh within the last quarter would have benefitted from the new tax system by Rettie's calculations.
£324,000 is the breakeven point where any property purchased over this level, and then you pay more under the new system than you would have under the old.
Essentially it will benefit first time buyers in larger cities like Edinburgh and Aberdeen and some second time buyers.
In other areas, third and even fourth time buyers may benefit.
Knight Frank were inundated with requests to accelerate sales.
The general public are panicking out of fear and a lack of understanding and are driving prices up currently, potentially above what the realistic increased tax level would be, if they waited until next year.
On a commercial basis, it may affect investors who are more worried about the cost to build and develop in Scotland.
Some facts on the topic which may be of interest.
FordMan1 said:
Not siding with anyone in particular here.
Will give some facts on the topic on the basis I am in a sector which it affects!
6,000 of the 7,900 properties sold in Edinburgh within the last quarter would have benefitted from the new tax system by Rettie's calculations.
£324,000 is the breakeven point where any property purchased over this level, and then you pay more under the new system than you would have under the old.
Essentially it will benefit first time buyers in larger cities like Edinburgh and Aberdeen and some second time buyers.
In other areas, third and even fourth time buyers may benefit.
Knight Frank were inundated with requests to accelerate sales.
The general public are panicking out of fear and a lack of understanding and are driving prices up currently, potentially above what the realistic increased tax level would be, if they waited until next year.
On a commercial basis, it may affect investors who are more worried about the cost to build and develop in Scotland.
Some facts on the topic which may be of interest.
So what you are saying is that 25% of all homes sold recently in Edinburgh, the buyers of these homes are now paying more stealth tax?Will give some facts on the topic on the basis I am in a sector which it affects!
6,000 of the 7,900 properties sold in Edinburgh within the last quarter would have benefitted from the new tax system by Rettie's calculations.
£324,000 is the breakeven point where any property purchased over this level, and then you pay more under the new system than you would have under the old.
Essentially it will benefit first time buyers in larger cities like Edinburgh and Aberdeen and some second time buyers.
In other areas, third and even fourth time buyers may benefit.
Knight Frank were inundated with requests to accelerate sales.
The general public are panicking out of fear and a lack of understanding and are driving prices up currently, potentially above what the realistic increased tax level would be, if they waited until next year.
On a commercial basis, it may affect investors who are more worried about the cost to build and develop in Scotland.
Some facts on the topic which may be of interest.
Seems fair... After all why should they benefit from working hard and saving when it could be spent on public sector instead?
Du1point8 said:
So what you are saying is that 25% of all homes sold recently in Edinburgh, the buyers of these homes are now paying more stealth tax?
Seems fair... After all why should they benefit from working hard and saving when it could be spent on public sector instead?
I see you saw fit to take the facts I had posted and made out I was in favour of the sentiment behind them...Seems fair... After all why should they benefit from working hard and saving when it could be spent on public sector instead?
I am merely presenting the facts rather than SNP bad everyone else good view. I was very surprised that as many would benefit if I am honest...
The number of people who benefit does nothing to demonstrate whether something is either fair or best for the economy. If you shot the richest 1% and redistributed their wealth amongst the other 99% millions would be better off.
SNP combine politics of envy and freebies as a short term tactic to win votes whilst disregarding what is the long term best interests of Scotland.
SNP combine politics of envy and freebies as a short term tactic to win votes whilst disregarding what is the long term best interests of Scotland.
Du1point8 said:
Seems fair... After all why should they benefit from working hard and saving when it could be spent on public sector instead?
The way I see it, this a fee the people with more than average income/wealth have to pay for social peace. I have friends who live in places like India or Mexico where one is taxed for wealth not in money, but in life. Yes one can keep more, but what is that good for if it has to be spent on personal protection? I think what makes countries like the UK so attractive for rich people is that they can walk the street without constant fear. And maybe this luxury comes with a hidden price.After all you still benefit from working hard, even if it gets proportionally less, you are still better off than the person who is not. Only crazy people would want a system where everybody is equal, there needs to be incentives and benefits for working hard, achieving more. But I also believe you have to give everybody a chance in life, be that free education, medical care, etc..
That said, this particular tax change seems a bit steep. I am sure that the £1m + will soon find some creative lawyers capable of creating some interesting loop holes to avoid paying this. I am afraid this, once again, will hit the middle classes and slightly better off more than anybody else. That is not a gut feeling either, the numbers show that the bulk of the welfare system is financed by the middle classes. The truly rich, so it seems, can afford not having to pay the same share.
Looks like the changes today in stamp duty are going to benefit us by £5k as we move house on 2nd Feb! 
https://www.gov.uk/government/publications/stamp-d...
"The reform will apply to residential property purchases throughout the UK. In Scotland, it will apply until Land and Buildings Transactions Tax (LBTT) replaces SDLT for transactions from 1 April 2015. "
https://www.gov.uk/government/publications/stamp-d...
"The reform will apply to residential property purchases throughout the UK. In Scotland, it will apply until Land and Buildings Transactions Tax (LBTT) replaces SDLT for transactions from 1 April 2015. "
scz4 said:
Looks like the changes today in stamp duty are going to benefit us by £5k as we move house on 2nd Feb!
https://www.gov.uk/government/publications/stamp-d...
"The reform will apply to residential property purchases throughout the UK. In Scotland, it will apply until Land and Buildings Transactions Tax (LBTT) replaces SDLT for transactions from 1 April 2015. "
I must've missed when this was changed, when the reformed stamp duty was announced £324,000 was the point at which you would be paying more and worse off. According to the calculator, that doesn't seem to be the case now. https://www.gov.uk/government/publications/stamp-d...
"The reform will apply to residential property purchases throughout the UK. In Scotland, it will apply until Land and Buildings Transactions Tax (LBTT) replaces SDLT for transactions from 1 April 2015. "
cat220 said:
scz4 said:
Looks like the changes today in stamp duty are going to benefit us by £5k as we move house on 2nd Feb!
https://www.gov.uk/government/publications/stamp-d...
"The reform will apply to residential property purchases throughout the UK. In Scotland, it will apply until Land and Buildings Transactions Tax (LBTT) replaces SDLT for transactions from 1 April 2015. "
I must've missed when this was changed, when the reformed stamp duty was announced £324,000 was the point at which you would be paying more and worse off. According to the calculator, that doesn't seem to be the case now. https://www.gov.uk/government/publications/stamp-d...
"The reform will apply to residential property purchases throughout the UK. In Scotland, it will apply until Land and Buildings Transactions Tax (LBTT) replaces SDLT for transactions from 1 April 2015. "
English one is cheaper to £937k or so.
The stamp duty announced today covers the whole of the UK until the Scottish own system kicks in next April, My solicitor just got a call to tell them to hurry the fk up and get my deal concluded by 5pm today.
Pistonheads just saved me £50k!
Thank you SCZ4!
k up and get my deal concluded by 5pm today.Pistonheads just saved me £50k!
Thank you SCZ4!
Edited by Hollowpockets on Wednesday 3rd December 16:08
Hollowpockets said:
The stamp duty announced today covers the whole of the UK until the Scottish own system kicks in next April, My solicitor just got a call to tell them to hurry the fk up and get my deal concluded by 5pm today.
Pistonheads just saved me £50k!
Thank you SCZ4!
No problem, 10% cut for my consultancy seems fair k up and get my deal concluded by 5pm today.Pistonheads just saved me £50k!
Thank you SCZ4!
Actually, you've got me confused\worried now
Is your actual transition today?We concluded our purchase and sale last week, but I assume the stamp duty rate that applies will be the one on the day of the transfer?
I contacted my solicitor to verify my interpretation on the changes and she concluded
"Your calculations are correct by my reckoning also. The cash statement to be issued to you shall take the new rates into account"
We move on 2nd of Feb.
Edited by scz4 on Wednesday 3rd December 16:30
Hollowpockets said:
The stamp duty announced today covers the whole of the UK until the Scottish own system kicks in next April, My solicitor just got a call to tell them to hurry the fk up and get my deal concluded by 5pm today.
Pistonheads just saved me £50k!
Thank you SCZ4!
No problem, 10% cut for my consultancy seems fair k up and get my deal concluded by 5pm today.Pistonheads just saved me £50k!
Thank you SCZ4!
Actually, you've got me confused\worried now
Is your actual transition today?We concluded our purchase and sale last week, but I assume the stamp duty rate that applies will be the one on the day of the transfer?
I contacted my solicitor to verify my interpretation on the changes and she concluded
"Your calculations are correct by my reckoning also. The cash statement to be issued to you shall take the new rates into account"
We move on 2nd of Feb. So looks like moving prior to April 1st has been a double win!
Edited by scz4 on Wednesday 3rd December 16:31
scz4 said:
Hollowpockets said:
The stamp duty announced today covers the whole of the UK until the Scottish own system kicks in next April, My solicitor just got a call to tell them to hurry the fk up and get my deal concluded by 5pm today.
Pistonheads just saved me £50k!
Thank you SCZ4!
No problem, 10% cut for my consultancy seems fair k up and get my deal concluded by 5pm today.Pistonheads just saved me £50k!
Thank you SCZ4!
Actually, you've got me confused\worried now
Is your actual transition today?We concluded our purchase and sale last week, but I assume the stamp duty rate that applies will be the one on the day of the transfer?
I contacted my solicitor to verify my interpretation on the changes and she concluded
"Your calculations are correct by my reckoning also. The cash statement to be issued to you shall take the new rates into account"
"For purchases of residential property that complete on or after 4 December 2014,
the stamp duty land tax (SDLT) calculation will change (subject to the transitional
provisions described below). There will be a series of SDLT rates that apply to the
amount of consideration falling within the new bands"
Gassing Station | Scotland | Top of Page | What's New | My Stuff