mansion tax

[Martin4x4]

Hol said:

The money to balance the annual budget shortfall does not grow on trees,

No, it is created by pressing a button

The problem was they gave it to the banks instead of investing it on solid infrastructure, houses etc.

[NoNeed]

Martin4x4 said:

No, it is created by pressing a button

The problem was they gave it to the banks instead of investing it on solid infrastructure, houses etc.

we used to have a Martin84 saying stuff like that, sadly he got banned just before you joined

[Hol]

Martin4x4 said:

Hol said:

The money to balance the annual budget shortfall does not grow on trees,

No, it is created by pressing a button

The problem was they gave it to the banks instead of investing it on solid infrastructure, houses etc.

If only it were as simple as that and we could just put more money into the hands of ordinary people that would spend it to get the economy moving again.

But then... Isn't it interesting how the UK Banks quickly organised as a group to do just that by paying out billions in PPI, without any legal challenge whatsoever?
That certainly got spare cash back exactly where it was needed to get the retail market moving again.


It's just a pub theory though, like all the others........

[NoNeed]

turbobloke said:

While also confusing pay gaps with something that matters.

I do wonder if any evidence even exists on the gap between rich and poor getting bigger. I do see the rich not being as rich and I see the poor getter wealthier with mobile phones and big tellies.

[Countdown]

ClaphamGT3 said:

If you are income-affluent rather than genuinely rich then you will need to continue to work and there aren't too many banking/legal/accountancy/insurance/property roles in Monaco. London, however, is an easy transfer with a lot of suitable roles available

Thanks

Re: your post and Rovermorris999 - shouldn't a low-tax economy like Monaco be an ideal environment for roles such as the ones you've listed? After all, low tax is a massive incentive for entrepreneurship and none of the above are roles where you absolutely HAVE to be physically present - ergo I would have thought it ideal for the French to move there, if they had to move anywhere?

[Hol]

Countdown said:

ClaphamGT3 said:

If you are income-affluent rather than genuinely rich then you will need to continue to work and there aren't too many banking/legal/accountancy/insurance/property roles in Monaco. London, however, is an easy transfer with a lot of suitable roles available

Thanks

Re: your post and Rovermorris999 - shouldn't a low-tax economy like Monaco be an ideal environment for roles such as the ones you've listed? After all, low tax is a massive incentive for entrepreneurship and none of the above are roles where you absolutely HAVE to be physically present - ergo I would have thought it ideal for the French to move there, if they had to move anywhere?

Do us all a favour and let us know how much a cheap three bed semi costs to buy in Monaco...

[Countdown]

Hol said:

Do us all a favour and let us know how much a cheap three bed semi costs to buy in Monaco...

Surprisingly similar to central London....

http://www.rightmove.co.uk/overseas-property/prope...

[turbobloke]

Countdown said:

ClaphamGT3 said:

If you are income-affluent rather than genuinely rich then you will need to continue to work and there aren't too many banking/legal/accountancy/insurance/property roles in Monaco. London, however, is an easy transfer with a lot of suitable roles available

Thanks

Re: your post and Rovermorris999 - shouldn't a low-tax economy like Monaco be an ideal environment for roles such as the ones you've listed? After all, low tax is a massive incentive for entrepreneurship and none of the above are roles where you absolutely HAVE to be physically present - ergo I would have thought it ideal for the French to move there, if they had to move anywhere?

Are the Courts accepting silk-by-videolink as the norm, or only in special cases where e.g. they may need to question somebody confined to a hospital bed able and required to give evidence? Even then, surely it's the witness operating remotely with the beagle in Court, in person.

[KFC]

Countdown said:

Surprisingly similar to central London....

http://www.rightmove.co.uk/overseas-property/prope...

Thats not in Monaco, thats in France. Its 2 minutes away... but with the obvious issue of not letting you qualify for tax free status.

[Talksteer]

ralphrj said:

Ed Miliband defending the abolition of the 10p tax band in 2008 said:

When you make a big set of changes in the tax system, some people do lose out. That is a matter of regret. Of course it is. But overall these changes will make the tax system fairer.

Ed Miliband in 2013 said:

We would put right a mistake made by Gordon Brown and the last Labour government.

Not to specifically defend Miliband who is a worthless freak but this attitude is precisely why we have so many illogical policies. Politicians cannot be seen the change their mind even when circumstanced, new evidence or public opinion would make a change sensible.

Politicians should be able to change their minds.

And in the case of Ed Miliband he was not in control of policy in 2008 but was obliged to support it.

[Talksteer]

jonny70 said:

Lotusevoraboy said:

No but the year after their bill/1% levy would be less if the value of the property had gone down.

and how will this be administrated?
Recruit an army of council home valuers?

I would have thought it could be data mined from sale prices, google street view/maps and previous surveys.

Provided that taxes did not have significant break points the accuracy of such techniques would be entirely adequate.

[santona1937]

There are about the same number of French citizens living in the UK as there are Brits in France.
The City likes them because French schooling is very focused on mathematics, and turns out large numbers of maths whizzes.It is very possible that the number 3-400k is very inflated. According to this article a french statistician put the number at around 130K and an ONS survey put the number at around 70K


http://fistfulofeuros.net/afoe/more-like-colmar-on...

[rovermorris999]

The difference being that many of the Brits are in France for retirement whereas the French are here to work.

[traxx]

Here is a few questions for you regarding how this will work?

Lets imagine you a house worth say £3m
Whats to stop you simply splitting the property in two with the Land Registry, there by getting bellow the £2m threshold (if thats what they decide on)?
Many houses where I live already face 2 Council Tax bills as the Government considers that "Annexes" could be used separately - so why don't owners legally separate these off?

Something I've noticed around the area I live in is that quite often when you buy a house you are picking up a parcel of of bit of land, basically gardens have been bought over the years and are all on different Land Registry numbers. Clearly the property is considered one - but legally its not so how would the value be assessed?

[Ozzie Osmond]

traxx said:

Whats to stop you simply splitting the property in two with the Land Registry, there by getting bellow the £2m threshold (if thats what they decide on)?

There are already effective anti-avoidance rules which catch people why try to split a property to avoid Stamp Duty. Same would no doubt apply.

[oyster]

Hol said:

.....the limit is obviously 100%.....

Not in any given year it isn't.

Take someone who earns £120k.
They pay £47k in employees NI and income tax.

They buy a property for £1.5m - SDLT is £75k.



So now they've paid tax of £122k from a salary of £120k. And that's before they've even fed themselves.

[audidoody]

Then they should be envied. For they have the priceless reward of knowing they have supported these worthy causes:

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


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

[anonymous-user]

Martin4x4 said:

No, it is created by pressing a button

The problem was they gave it to the banks instead of investing it on solid infrastructure, houses etc.

Did you actually read the link you gave or did you just not understand it? It's pretty clear QE cash wasn't 'given' to anyone, expecially the banks. 5 Years of QE later and there are still people who don't know what it is!

[z4chris99]

don't be stupid! QE is printed and then sent by the truck direct to bankers houses.

it's not what is keeping this country out of water, and the poor fktards who live in it happy enough to vote blue next time

[sidicks]

Martin4x4 said:

No, it is created by pressing a button

The problem was they gave it to the banks instead of investing it on solid infrastructure, houses etc.

Just out of interest, are you as stupid as you sound??