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Thread: A good idea from Javid?

  1. #1
    Should Get Out More Tomcat's Avatar
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    Default A good idea from Javid?


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    Yes, I really did write that. Credit where it's due, which is why I don't generally praise the Tories...

    Stamp Duty paid by the sellers. An idea only floated and not an actual policy I believe, but for the life of me I can't see a problem with it. House price rises are absolutely stupid, in no way reflect increased value or utility and make it virtually impossible for new buyers to own their own houses. To add insult to injury buyers are slapped with a massive chunk of stamp duty. Meanwhile sellers who have done absolutely nothing are gifted with massive gains.

    So why shouldn't the govt take their cut from the parties who have been gifted huge unearned profits? It would make it easier for buyers to get that elusive first purchase, and be a positive move towards the Tory dream of a home owning society....

    Is there something I've missed here?

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    Should Get Out More Gedge's Avatar
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    Default Re: A good idea from Javid?

    In what way have the government done more to earn a cut than the sellers?? How about scrapping the dated system altogether ,...there are already rules on capital gains that could come into play for excessive,rapid gains in value ..

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    Should Get Out More Ant's Avatar
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    Default Re: A good idea from Javid?

    Quote Originally Posted by Tomcat View Post
    Yes, I really did write that. Credit where it's due, which is why I don't generally praise the Tories...

    Stamp Duty paid by the sellers. An idea only floated and not an actual policy I believe, but for the life of me I can't see a problem with it. House price rises are absolutely stupid, in no way reflect increased value or utility and make it virtually impossible for new buyers to own their own houses. To add insult to injury buyers are slapped with a massive chunk of stamp duty. Meanwhile sellers who have done absolutely nothing are gifted with massive gains.

    So why shouldn't the govt take their cut from the parties who have been gifted huge unearned profits? It would make it easier for buyers to get that elusive first purchase, and be a positive move towards the Tory dream of a home owning society....

    Is there something I've missed here?
    Possibly.

    It'll be like eBay fees, the sellers will just hike the prices up to compensate.

    Also,

    Quote Originally Posted by Tomcat View Post
    Meanwhile sellers who have done absolutely nothing are gifted with massive gains.
    I don't agree, as if you're selling, you're also buying a new place and will have to pay stamp duty and if you're not buying then you're paying out a gains tax or inheritance tax.

    Also, tax on buying and selling homes is a bit draconian anyway.

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    Should Get Out More wheelnut's Avatar
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    Default Re: A good idea from Javid?

    Quote Originally Posted by Tomcat View Post

    Is there something I've missed here?
    Because it will cause house prices to rise further and faster?

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    Expecting rain saga_lout's Avatar
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    Default Re: A good idea from Javid?

    Quote Originally Posted by Tomcat View Post
    Yes, I really did write that. Credit where it's due, which is why I don't generally praise the Tories...

    Stamp Duty paid by the sellers. An idea only floated and not an actual policy I believe, but for the life of me I can't see a problem with it. House price rises are absolutely stupid, in no way reflect increased value or utility and make it virtually impossible for new buyers to own their own houses. To add insult to injury buyers are slapped with a massive chunk of stamp duty. Meanwhile sellers who have done absolutely nothing are gifted with massive gains.

    So why shouldn't the govt take their cut from the parties who have been gifted huge unearned profits? It would make it easier for buyers to get that elusive first purchase, and be a positive move towards the Tory dream of a home owning society....

    Is there something I've missed here?
    Who pays the estate agent fees plus conveyancing fees, plus stamp duty makes no difference, it all comes out of the price that the buyer is prepared to pay to buy the house.

    https://en.wikipedia.org/wiki/Tax_incidence

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    Should Get Out More Yambo's Avatar
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    Default Re: A good idea from Javid?

    It's gesture politics TC.

    You, as a committed Socialist, should recognise it immediately.

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    Should Get Out More Cousin Jack's Avatar
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    Default Re: A good idea from Javid?

    Perhaps we need less tax and less goverment. Scrapping Stamp Duty and getting rid of half the Treasury would be a good start.

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    Expecting rain saga_lout's Avatar
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    Default Re: A good idea from Javid?

    Quote Originally Posted by Cousin Jack View Post
    Perhaps we need less tax and less goverment. Scrapping Stamp Duty and getting rid of half the Treasury would be a good start.
    Like that's gonna happen.

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    Default Re: A good idea from Javid?

    If you can't afford the stamp duty, maybe you shouldn't buy the house?

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    Should Get Out More Makman's Avatar
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    Default Re: A good idea from Javid?

    Quote Originally Posted by Tomcat View Post
    Yes, I really did write that. Credit where it's due, which is why I don't generally praise the Tories...

    Stamp Duty paid by the sellers. An idea only floated and not an actual policy I believe, but for the life of me I can't see a problem with it. House price rises are absolutely stupid, in no way reflect increased value or utility and make it virtually impossible for new buyers to own their own houses. To add insult to injury buyers are slapped with a massive chunk of stamp duty. Meanwhile sellers who have done absolutely nothing are gifted with massive gains.

    So why shouldn't the govt take their cut from the parties who have been gifted huge unearned profits? It would make it easier for buyers to get that elusive first purchase, and be a positive move towards the Tory dream of a home owning society....

    Is there something I've missed here?
    Please can he wait until I've sold my shared ownership gaff next year? Seriously, it hits some people much harder. IF you can afford to buy that expensive place, you can afford to pay the Stamp Duty.

    Perhaps a guideline, under 400,000 paid by buyer, over 400,000 paid by rich swotty people.

    PS, I have just raised my house price a further 10% to cover those costs... like having to pay PayPal fees etc.. more expensive postage to cover costs ripped from you by extortionate fees. or something.

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    Default Re: A good idea from Javid?

    Isn't going to happen - I won't shift stamp duty to sellers, says chancellor

    So, taking the same Flip-Flop ministerial style as Bozo then?

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    Should Get Out More Kneerly Down's Avatar
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    Default Re: A good idea from Javid?

    Stamp duty reduces labour mobility, which is a bad thing.
    It also acts as a disincentive to matching housing stock to housing need.
    If I have to pay to the government, 10s of thousands out of post-tax earnings every time I move I'm much less likely to move.

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    Default Re: A good idea from Javid?

    Nice try at getting the youth vote.

    Plenty of who can afford to buy a house, it's just they can also piss that money up a wall every night. Just like it was back in ye goode olde dayes. Some of them are realistic enough to know this, others just whine

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    Should Get Out More Bobzilla's Avatar
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    Default Re: A good idea from Javid?

    It's a no from me for the same reason that your principal private residence is free from cgt. You could couple it with some sort of ppr relief so that it hit sellers of second houses and dead people.

    Sent from my SM-G955F using Tapatalk

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    Really Bored Clanktank's Avatar
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    Default Re: A good idea from Javid?

    So I get clobbered with two lots of stamp duty for the same house?
    Not gonna happen.

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