Idle taxation musings

[DodgyGeezer]

given the current lot seem to want to squeeze every last penny is there any chance that they could have the brainwave of introducing CGT on:

- Primary residences

- cars

[Terminator X]

Can't see cars as then they'd need to let the 99% that lose money reclaim tax on the losses.

Houses? I think you'd see pitchforks in the street if they tried that!

TX.

[fat80b]

cars - not sure how that woud work in practice. (although my fleet is mostly increasing in value so I would say that....)

Houses - I could imagine that reforming Stamp Duty is a good idea - I've always thought that making the buyer pay the tax doesn't make much sense.

My simple logic has always been that the person selling the house is in a better place to pay the tax as they are the ones liquidating the asset whereas the purchaser (in all the cases I've been one) is scrambling for every last penny to borrow in order to pay the stamp.....

In a better world, there could be a sales tax on housing, and you'd be able to offset mortgage interest against income tax (like the good old days / elsewhere in Europe), but they'll never do that......

[GT03ROB]

No & No

[alscar]

If the car has lost value then no gain so other than perhaps a few “ flippers “ can’t see much CGT being raised and just implementing / running with this can’t see anyone doing it.
Cars generally considered to be a wasting asset as with wine etc.
Houses - would raise more certainly but unless use of grandfathering ( which would defeat the object ) and allowance for work and maintenance to offset gains again can’t see anyone introducing or being able to administer.

[konark]

In some countries where there is CGT on gains from primary residences this can be offset if buying another property, so it really only affects probate and emigrant sales