Is it time to put some tax on the sale of the PPR?
I don't know if it's being done on a large scale but I personally know quite a few people who are into buying and doing up houses, living in them for a while and selling for nice profits.
I don't know if it's being done on a large scale but I personally know quite a few people who are into buying and doing up houses, living in them for a while and selling for nice profits. There's no tax due on the sales and was wondering when this "hobby" starts getting treated as more than just selling ones PPR? All the people I'm talking about have good jobs but do very well out of this exemption. Is it time to put some tax on the sale of the PPR?
Maybe I should have titled my thread as "Review of CGT exemption for PPR's". Yes, this is what I feel needs doing and won't be surprised to read the overwhelming opposition some may have.
I don't know if it's being done on a large scale but I personally know quite a few people who are into buying and doing up houses, living in them for a while and selling for nice profits. There's no tax due on the sales and was wondering when this "hobby" starts getting treated as more than just selling ones PPR? All the people I'm talking about have good jobs but do very well out of this exemption. Is it time to put some tax on the sale of the PPR?
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