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Capital Gain.
Capital gains tax on your home? Think tank calls for homeowners to be taxed on house price rises to pay for coronavirus
NEW The Social Market Foundation is proposing a 10 per cent tax on the gain made from a rise in house prices when a property is sold, or when it is inherited after the owner's death.
https://www.dailymail.co.uk/home/index.html
NEW The Social Market Foundation is proposing a 10 per cent tax on the gain made from a rise in house prices when a property is sold, or when it is inherited after the owner's death.
https://www.dailymail.co.uk/home/index.html
Comments
Some morons have just discovered that they can get even more revenue by taxing any profit made on your home.
Why bother just take the lot.
The massive covid borrowing will be repaid by increasing existing levels of tax, or by introducing new ones.
We will automatically moan about either.
This particular idea will affect my kids rather than me, as I have no plans to move house.
I would probably be more concerned about measures that substantially reduced my income while I am still alive.
You will probably need to save some equity to meet you care home costs, if required.
I can see the unfairness of those that rent their home not having to pay either.
I can also see further unfairness where people like me have not benefitted at all financially from the Government spending, bur will almost certainly be included in repayment plans.
If they went ahead with this plan, I am sure that it would be followed by re-mortgage, and equity release plans in order to avoid paying it.
All over-40s could be asked to pay more tax to help fund the cost of their care in later life under radical plans being discussed by ministers. Boris Johnson is examining a string of proposals for tackling Britain's social care crisis, the cost of which is expected to soar by an extra £7billion a year. The Prime Minister is under pressure to come forward with a solution to the issue he first pledged to 'fix once and for all' more than a year ago.
https://www.dailymail.co.uk/home/index.html
According to the Guardian, everyone over 40 will contribute towards the cost of care in later life, under plans being studied by ministers to end the crisis in social care.
It says they would have to pay more in tax or national insurance or insure themselves against hefty care bills when they are older.
The Times reports that Chancellor Rishi Sunak is considering a new tax on goods sold online amid mounting concern about the collapse of the High Street as Britain emerges from lockdown.
https://www.bbc.co.uk/news/blogs-the-papers-53548875