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VOTE SUNAK

How the other half live.... £500K is a fortune. No one I know (ATM anyway) could even allow themselves to dream of spending that on a house... and few to dream of ever owning their own home at all! You could easily buy two terraced houses here for that.

Those who can afford to have a home of their own at all are wealthy enough to not be the one's who should be helped by gov money. Those who are REALLY SUFFERING ie have to choose between eating or heating, have to use food banks etc are never the ones to benefit from Tory largesse. I thought it seemed both too good to be true and suspiciously un Tory like when there was mention of everyone getting £500 a couple of days ago... sure enough it's now those who can afford say £500K anyway that are to get £5k cash back on houses... Typically Tory that those so poor that £500 would get them their first holiday in 10 years are to be denied it. Obviously to a Tory anyone so poor that £500 would be a lot of money to them must be a benefit scrounging scumbag and so only those to whom £500 would be a bottle of wine or a pair of Jodhpurs deserve it...

Sunak, and the Tories in general right now are doing some odd things which have me very suspicious. Just about enacting a Labour manifesto in many ways whilst being far right enough to please the scum Little Englanders in others. It could be argued that if they are carrying out some rather socialist policies in order to keep themselves in power (so that they and their bottom feeding gravy train riding backers can continue to have their noses in the trough for as long as possible), that at least they are "accidentally" doing some good through nicking Labour policies... These though are the sort of deplorables who probably worship huge pictures of Thatcher the milk snatcher every morning! Leopards can't change their spots etc...
 
In this day and age, it's not the rich who own 500k houses. If you want to live in certain areas that's what you have to spend.

Oh yes we do, we bought one as a cheap get away from our London property portfolio or home as some bizarrely call it ;)
 
How the other half live.... £500K is a fortune. No one I know (ATM anyway) could even allow themselves to dream of spending that on a house... and few to dream of ever owning their own home at all! You could easily buy two terraced houses here for that.

Those who can afford to have a home of their own at all are wealthy enough to not be the one's who should be helped by gov money. Those who are REALLY SUFFERING ie have to choose between eating or heating, have to use food banks etc are never the ones to benefit from Tory largesse. I thought it seemed both too good to be true and suspiciously un Tory like when there was mention of everyone getting £500 a couple of days ago... sure enough it's now those who can afford say £500K anyway that are to get £5k cash back on houses... Typically Tory that those so poor that £500 would get them their first holiday in 10 years are to be denied it. Obviously to a Tory anyone so poor that £500 would be a lot of money to them must be a benefit scrounging scumbag and so only those to whom £500 would be a bottle of wine or a pair of Jodhpurs deserve it...

Sunak, and the Tories in general right now are doing some odd things which have me very suspicious. Just about enacting a Labour manifesto in many ways whilst being far right enough to please the scum Little Englanders in others. It could be argued that if they are carrying out some rather socialist policies in order to keep themselves in power (so that they and their bottom feeding gravy train riding backers can continue to have their noses in the trough for as long as possible), that at least they are "accidentally" doing some good through nicking Labour policies... These though are the sort of deplorables who probably worship huge pictures of Thatcher the milk snatcher every morning! Leopards can't change their spots etc...

If you're wealthy enough, you can also avoid stamp duty by gifting your kids a house - they pay no stamp duty upon transfer of title as stamp duty is only due on cash sum paid. If you live for at least 7 more years no inheritance tax is due on the gifted capital sum either.
 
If you're properly rich you can gift your kids a house and they pay no stamp duty upon transfer of title. If you live for at least 7 more years no inheritance tax is due on the gifted capital either.
I think they would have to pay income tax of 40% on the gift though ...
 
If you're properly rich you can gift your kids a house and they pay no stamp duty upon transfer of title. If you live for at least 7 more years no inheritance tax is due on the gifted capital either.

It's all skewed towards keeping the rich rich or making them richer still of course.

It's amusing how in the Grauniad and other champagne socialist sites, (like pfm!) everyone's so left wing and "right on" when it comes to LGBT rights and Black Lives Matter etc etc but as soon as there is any mention of increased inheritance taxes etc to help the poor and the NHS most become as true blue as Maggie herself in about a microsecond!!
 
Yes, it is. In a country where home owners tend to be the wealthier and older people, and many people can’t afford houses, it’s over double the average house price (according to the government). That’s pretty much how you define comparative terms like rich, isn’t it?

Thank heavens for that. Mine comes in way below that (not that I'd ever move) so any former feelings of wealth are now dissipated. From rags to riches and back again.
 
The stamp duty cut will just push a temporary increase in house prices for the already well off -

How does that work? If downsizing you're no better off and if upsizing you'll be clobbered by the stamp duty anyway. £15000 stamp duty cut on a half-million £ house means it now costs £485,000. Big deal. It might incentivise some who are struggling at the lower end because of deposit deficits but the savings above the pre-existing £125K won't exactly pop the champagne corks.
 
Yes, that small fact does of course obscure my flippant comment a tad. However, a young couple who can afford a £450k mortgage ain’t poor neither.

A combined income of £150k by my reckoning so, no, not poor.

You don't need a 450k house. Do what I do and work in That London and live in a cheaper part of the country and then flog yourself to death on a daily commute. :)
 
If you're wealthy enough, you can also avoid stamp duty by gifting your kids a house - they pay no stamp duty upon transfer of title as stamp duty is only due on cash sum paid. If you live for at least 7 more years no inheritance tax is due on the gifted capital sum either.
Isn’t that only principle private residences?
I thought second homes or properties to let would incur CGT.
 
Thank heavens for that. Mine comes in way below that (not that I'd ever move) so any former feelings of wealth are now dissipated. From rags to riches and back again.

Ah, the question wasn’t whether a 500k house is the minimum or lower bound of wealthiness. It’s just that 500k is definitely above it, whatever it is.

You may yet be a comparative Croesus, despite your hovel :)
 
Isn’t that only principle private residences?
I thought second homes or properties to let would incur CGT.

My understanding is that they may in some circumstances, but not in others. They would IF cash was exchanged, but not if they are gifted - see PET. I think there's also some sort of exemption for homes that were bought as PPRs but aren't now and have been subsequently let. I am however straying to the limits of my knowledge here and into detail of an area I am not qualified to offer advice on here, in case you're reading this.
 
A combined income of £150k by my reckoning so, no, not poor.

You don't need a 450k house. Do what I do and work in That London and live in a cheaper part of the country and then flog yourself to death on a daily commute. :)
I’m retired. Please don’t mention work or commuting ever again. It brings me out in a nasty rash
 
A combined income of £150k by my reckoning so, no, not poor.

You don't need a 450k house. Do what I do and work in That London and live in a cheaper part of the country and then flog yourself to death on a daily commute. :)
Or do what I do and avoid London because it's an overpriced dump. I was last there in 2017 for work and if I don't care if that's the last I see of it.
 


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