New stamp duty rules

Dr Jack · 3 Dec 2014 at 20:30

Skillmister said:
https://docs.google.com/spreadsheets/d/1Pt12fjABlvqjg9afQ7bE5JFccf1Rf1ENdPbWomW286I/edit#gid=0

So the largest saving is on a house worth £1,005,000. Huh.

Tonester0011 · 3 Dec 2014 at 20:34

Mr Jack said:
So the largest saving is on a house worth £1,005,000. Huh.

Largest by % is £255,000

McBain · 3 Dec 2014 at 20:36

Moses said:
So why's it okay to tax the 'luxuries' VAT covers, but not expensive housing? People might never have to pay it, or perhaps only pay it once. The money's needed for the services we all benefit from, so why's it a bad way of doing it? Mainly because the historical root of it is different to the current need? :-|

So you think stamp duty should be applicable only to housing that is considered a luxury?

McBain · 3 Dec 2014 at 20:37

Mr Jack said:
VAT on shoes: 20%

VAT on feminine sanitary products: 5%

VAT on Jaffa Cakes: 0%

Are you sure about that?

There are items that shouldn't be VAT chargeable, and some that should, can't say I disagree.

Perhaps I should have said 'life necessities'.

SDK^ · 3 Dec 2014 at 20:39

Mr Jack said:
So the largest saving is on a house worth £1,005,000. Huh.

Tonester0011 said:
Largest by % is £255,000

Indeed, % saving is more relevant.
The largest % saving is actually on house a worth £250,000.01

McBain · 3 Dec 2014 at 20:43

Moses said:
No, that isn't what I said.

'Expensive housing' ... it's pretty much where you were heading, no?

Stretch · 3 Dec 2014 at 20:49

Call me a cynic, but just watch them to take it all back with the other hand in the first budget of the new parliament.

McBain · 3 Dec 2014 at 20:50

Moses said:
No. That's said in the sense that £125k+ is quite a lot of money/a pretty expensive purchase.

It is, can't deny that.

Dr Jack · 3 Dec 2014 at 20:54

SDK^ said:
Indeed, % saving is more relevant.
The largest % saving is actually on house a worth £250,000.01

Sure, I agree: I was expressing surprise not objecting. It's fairly inevitable that moving from a terribly badly designed system like the old stamp duty setup to a more rationally designed one like the new one is going to throw up weird edge cases.

McBain · 3 Dec 2014 at 20:56

Back to the point, i'm glad the new system is in place, my opinion on the fairness of stamp duty aside the old tiered system was a really bad setup.

Plus it's going to save me some money, so

McBain · 3 Dec 2014 at 22:03

Moses said:
I'm glad we cleared that up. Are you going to answer what I asked, now?

No, i'll say how I believe stamp duty isn't fair, and you'll justify it by saying 'well we charge VAT on luxuries, so why not houses, we need the money etc etc' and we go round and round, it's a pointless exercise that just derails the thread.

I don't agree with it, you do. Let's leave it at that.

Dr Jack · 3 Dec 2014 at 22:04

McBain said:
It's pointless, i'll say how stamp duty shouldn't be paid, and you'll justify it by saying 'well we charge VAT on luxuries, so why not houses, we need the money etc etc' and we go round and round.

It's only pointless because you're apparently incapable of defending your views.

McBain · 3 Dec 2014 at 22:07

Mr Jack said:
It's only pointless because you're apparently incapable to defend your views.

I've defended my views countless times in the thread.

Tonester0011 · 3 Dec 2014 at 22:10

Mr Jack said:
It's only pointless because you're apparently incapable to defend your views.

It's pointless because he's unwilling to change his opinion, and you're foolish in trying to. Not that i care, not even read anything you've both been arguing about

McBain · 3 Dec 2014 at 22:11

Tonester0011 said:
It's pointless because he's unwilling to change his opinion, and you're foolish in trying to. Not that i care, not even read anything you've both been arguing about

We aren't arguing, we're discussing. If everyone had the same opinion, discussions like this would be pretty boring, and involve people arse tapping in agreement.

Duke · 3 Dec 2014 at 22:11

Great news and well overdue, just a shame they didn't do it a few months ago so I could have saved £1200.

Tonester0011 · 3 Dec 2014 at 22:13

McBain said:
We aren't arguing, we're discussing. If everyone had the same opinion, discussions like this would be pretty boring, and involve people arse tapping in agreement.

I agree.

Tonester0011 · 3 Dec 2014 at 22:14

AndrewNR · 3 Dec 2014 at 22:14

Good news. Now looking at 4 bedroom houses instead of 3.

Dr Jack · 3 Dec 2014 at 22:22

McBain said:
I've defended my views countless times in the thread.

That might be your impression; I doubt many others share it. At no point have you put together anything that constitutes a coherent argument.