Don't laugh, but SNP have just put stamp duty up to 10%!
Discussion
blindswelledrat said:
In fact that is a better system than ours!
Ours is stupid the way you pay the full amount if you breach a threshold.
AgreedOurs is stupid the way you pay the full amount if you breach a threshold.
Don't agree with a top rate of 10% but in all other respects it is a superior system as it gets rid of the distortion on the property market.
blindswelledrat said:
ATG said:
keith333 said:
http://www.bbc.co.uk/news/uk-scotland-scotland-pol...
Unbelievable! SNP are saying that stamp duty for houses £250k to £1 mil will be 10%, 12% on houses above £1 mil. 0% up to £135k and 2% from 135k - £250k.
There are plenty houses up here from £300-350k which hard working people are going to pay huge amounts of tax on and money after they've paid tax on too.
Sounds like you'll pay about 1% on a 350k house. Nothing on the first 135k, 2.3k on the 115k that takes you up to 250, then 10% of the 100k that takes you up to 350k. So the tax is 3.3k ... If I can count right in my head. Unbelievable! SNP are saying that stamp duty for houses £250k to £1 mil will be 10%, 12% on houses above £1 mil. 0% up to £135k and 2% from 135k - £250k.
There are plenty houses up here from £300-350k which hard working people are going to pay huge amounts of tax on and money after they've paid tax on too.
The tax starts to rocket for more expensive houses, but for the majority it'll represent a cut or little change. Welcome to Cuba without the sun ... to misquote a French economic advisor.
Ours is stupid the way you pay the full amount if you breach a threshold.
simoid said:
REALIST123 said:
...certainly won't help! Dear me, I wonder what the demographics are going to be after a decade of this sort of s
t? Can't see many with aspiration heading north.
How will the stamp duty cause a demographics change?t? Can't see many with aspiration heading north.BrownBottle said:
BlackLabel said:
From that twitter feed:
Looks good.Edited by BlackLabel on Thursday 9th October 17:58
Much fairer for the majority of people.
I can't think of a legal use of money less productive for society as a whole than "investing" in houses that already exist.
scz4 said:
BBC - "Under the new system, 90% of taxpayers and 95% of non-residential taxpayers would be better or no worse off, Mr Swinney added."
Would love to know how they calculated this....
Are they saying 90% of scottish property sales are for less than £300k? I could believe that's true.Would love to know how they calculated this....
Could it be because 90 % of taxpayers who were thinking of upgrading from a 300k house now won't bother/ will extend.
As per some previous posts, I agree that the theory of a "non-slabbed" basis of property purchase tax is not without merit but some sectors of the market will be hit hard
EG on a £500k purchase, under existing UK regime, Stamp Duty Land Tax = £15,000 and under Tartan regime Land and Building Transaction Tax = £27,300
Ouch
As per some previous posts, I agree that the theory of a "non-slabbed" basis of property purchase tax is not without merit but some sectors of the market will be hit hard
EG on a £500k purchase, under existing UK regime, Stamp Duty Land Tax = £15,000 and under Tartan regime Land and Building Transaction Tax = £27,300
Ouch
REALIST123 said:
simoid said:
REALIST123 said:
...certainly won't help! Dear me, I wonder what the demographics are going to be after a decade of this sort of st? Can't see many with aspiration heading north.
How will the stamp duty cause a demographics change?t? Can't see many with aspiration heading north.t" doesn't cause demographic change...?Or do you just mean SNP policies?
I've had a long day
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