Topic: | Re:Re:Re:Re:Re:Re:Re:Re:Re:Mansion Tax and Bedroom Tax | |
Posted by: | Sam Hearn | |
Date/Time: | 20/04/15 12:32:00 |
Mansion tax - If you must introduce such a new tax (and all the attendant administration and carefully drafted legislation) then at least be honest and call it THE WEALTH TAX and extend its scope. In this way those owning more one property, a share portfolio (including ISAs), the odd valuable antique, classic car, time share etc would not feel left out. If property values are your real bête noir why not simply increase the banding for council tax and reduce central governments funding of local authorities by the total of the additional money raised from council tax (less a small admin charge.) As Rick Mayall's family are finding out Inheritance Tax is a random joy to behold - if you have to raise more tax why not lower the starting limit to £100k and share the pleasure around more equally with say a 20% starting rate up to £1m. This will have the added benefit of generating lots of new economically useless new jobs in HMRC Capital taxes Office. |