Topic: | Re:Re:Re:Re:Re:Re:Re:Re:Mansion Tax and Bedroom Tax | |
Posted by: | Joe Conneely | |
Date/Time: | 20/04/15 12:01:00 |
Susan, Fragmentation of asset values is a standard way of reducing or avoiding taxes but what you outline is simply a result of what is the base value you establish for a tax (whether £2 million or another figure). Applying a property portfolio valuation tax would really set the cat amongst the pigeons I suspect! The UK tax system rarely gives relief for debts or mortgages in reducing the value of assets as it is too easy to leverage up your debt levels (again a well known method of reducing taxes as the private equity industry will readily testify) - in this case the argument would be that if you can fund such a house purchase and debt to buy then you should be able to afford the percentage tax. |