Z
z106
Guest
What do people think of thsi new property tax that may be introduced?
My unerstanding of it may be incorrect but am i right in saying that anyone that owns a second home or a buy-to-let will be subjected to a tax?
Is my understanding correct?
Personaly I hink introducing a blanket tax on anyone just because they own a second property is unfair.
Back in the day property buyers who paid exceptionally high stamp duty by international standards were all told that at least we don't have a propety tax.
Now it seems that people that bought in the last couple of years will have paid both crazy high stamp suty as well as now being subjected to an ongoing property tax to top it all off.
This to me seems draconian and unfair.
A lot of people who bought a buy-to-let in the last couple of years now have a significant paper loss.
Surely the idea of tax is that people should give over part of their profits to the tax man.
MAny people these days are at a loss due to taking on a second property.
Obviously like any business that is the risk they took on and that's the way the cookie crumbles and all that.
However I certainly don't see why they should be subjected to a further property tax while their business runs at a loss.
Why not target profit making businesses instead?
My unerstanding of it may be incorrect but am i right in saying that anyone that owns a second home or a buy-to-let will be subjected to a tax?
Is my understanding correct?
Personaly I hink introducing a blanket tax on anyone just because they own a second property is unfair.
Back in the day property buyers who paid exceptionally high stamp duty by international standards were all told that at least we don't have a propety tax.
Now it seems that people that bought in the last couple of years will have paid both crazy high stamp suty as well as now being subjected to an ongoing property tax to top it all off.
This to me seems draconian and unfair.
A lot of people who bought a buy-to-let in the last couple of years now have a significant paper loss.
Surely the idea of tax is that people should give over part of their profits to the tax man.
MAny people these days are at a loss due to taking on a second property.
Obviously like any business that is the risk they took on and that's the way the cookie crumbles and all that.
However I certainly don't see why they should be subjected to a further property tax while their business runs at a loss.
Why not target profit making businesses instead?