It looks like you're using an Ad Blocker.

Please white-list or disable AboveTopSecret.com in your ad-blocking tool.

Thank you.

 

Some features of ATS will be disabled while you continue to use an ad-blocker.

 

Labour to Give TAX BREAKS for Second Homes

page: 1
0

log in

join
share:

posted on Aug, 31 2005 @ 08:20 PM
link   
From April our government plans to give tax discounts to second home owners’ worth between 20 and 40% of a properties value. For the first time ever second home owners will be able to include a second property in their pension pot. As only 50% of a pension plans value can be used to gain a tax break against a second home; only the very rich will benefit from Labours plans the most.

uk.biz.yahoo.com...
www.abcmoney.co.uk...
news.independent.co.uk...

There are also fears that even more rural people will be priced out of the countryside by city dwellers buying one or more second homes. This problem will not be limited to the countryside as the tax breaks apply equally to properties both within and outside cities. Meanwhile the government has reduced the amount of greenbelt land to allow more development over the countryside. Maybe there’s no connection but property developers are set to pay councils more for building on green field sites.

The scheme may provide much needed rented accommodation. Much needed because even today without these takes breaks; many people find it hard (if not impossible) to buy one home of their own. Anyway all rental income would be “locked away” in the pension pot making it unsuitable for many landlords, excluding the wealthy of course.

Personally I think the countryside looks better under concrete than vegetation. I like the fact people will have to save up even longer to buy a home of their own because it will be good for the banking industry; and the banking industry donates money to the political parties, not least New Labour of course.
Seriously though; the Tories where in power for 18 years and they never did anything like this. So why do you think it’s this government that so intent on giving such generous discounts to the wealthy?




posted on Sep, 5 2005 @ 09:28 AM
link   
Surely the correct title for this tread would be more accurately 'Labour extends buy to let tax breaks to boost the pension sector'?

I think you'll find that whilst Labour has made changes (obviously) in their 8yrs that various breaks for property ownership (as well as 'buy to let') have been going on in the UK for years (centuries) before their time.


JAK

posted on Sep, 5 2005 @ 10:03 AM
link   

Originally posted by sminkeypinkey
Surely the correct title for this tread would be more accurately 'Labour extends buy to let tax breaks to boost the pension sector'?

I think you'll find..


Actually I think you'll find that there is no way to gilt edge this crap.

Surely one look at the housing market will tell you that it's a total mess.

Labour knows it - everyone knows it. Obviously admitting it is a different thing though eh? Nice to see such concern for future generations.
    That's why self-certification mortgages were introduced. With the vast majority of first time buyers being refused fraud on a massive scale was the only way to keep the market afloat.
That is a fact, the reality of the situation. If you don't see that then you are unenlightened, misguided or a blind fool.


tax breaks to boost the pension sector'?

Attempting to justify this is so desperate it's not even funny.


Have to shoot now - need to vomit.

Jak

[edit on 5/9/05 by JAK]



posted on Sep, 5 2005 @ 02:18 PM
link   

Originally posted by JAK
Surely one look at the housing market will tell you that it's a total mess.


- Care to expand on that?

I am obviously aware that first time buyers are thin on the ground (hardly the first time that has happened) and things are now 'slow' (but again historically hardly anything like the situation it has been in before).


Labour knows it - everyone knows it. Obviously admitting it is a different thing though eh?


- Who isn't "admitting" anything?

The national stats are still published, the state of mortgage lending is not a secret (and neither is the fact that the housing market had to cool off as it was getting ridiculous).


Nice to see such concern for future generations.


The need to greatly expand the rented sector as many people could not afford to buy property is an issue that needs addressing and is being adressed by measures (this one included).

You'll also find this gov releasing 'brown field' land cheaply for clean up and redevelopment for affordable homes as well as initiating a general national program approving the construction of low cost homes.


    That's why self-certification mortgages were introduced. With the vast majority of first time buyers being refused fraud on a massive scale was the only way to keep the market afloat.
That is a fact, the reality of the situation.


- No, that is you own personal take on the situation, nothing more.

You wouldn't be the first and no doubt you won't be the last to make 'the sky is about to fall in' claims about the UK housing market.
You'll find it's pretty resilliant though, even the crash of the early/mid 1990's (far far worse than anything going on now) didn't ruin the market beyond the short-term.


If you don't see that then you are unenlightened, misguided or a blind fool.


- Now that kind of talk does surprise me, barely veiled insults if anyone dares disagree. From a mod too.
Decidedly uncool JAK.


Attempting to justify this is so desperate it's not even funny.


- I'm not attempting anything, I simply gave the gov's reasoning given at the time as fair comment to what I saw as an unfair implication (ie this Labour gov going out of their way to featherbed 2nd home owners and that a tory gov would not have done similar - given the UK's historical property laws that was a ridiculous comment).


Have to shoot now - need to vomit.


- Was it something nasty you swallowed?

Are you losing a little objectivity & having trouble getting a home JAK?


[edit on 5-9-2005 by sminkeypinkey]


JAK

posted on Sep, 5 2005 @ 02:49 PM
link   

Originally posted by sminkeypinkey

- Care to expand on that?


No - It's painfully obvious. If you cannot to see it, or perhaps refuse to, that's your decision.


Originally posted by sminkeypinkey
I am obviously aware that first time buyers are thin on the ground (hardly the first time that has happened) and things are now 'slow' (but again historically hardly anything like the situation it has been in before).

And I am aware of numerous mortgage advisors for large high street banks who, within millions of pounds worth of deals, have yet to be able to say yes to a first time buyer and who find that saddening. Hardly 'thin on the ground'.
Such a response proves you have no real idea of the current situation or you are just denying it. Try living in the real world.


Originally posted by sminkeypinkey


    That's why self-certification mortgages were introduced. With the vast majority of first time buyers being refused fraud on a massive scale was the only way to keep the market afloat.
That is a fact, the reality of the situation.


- No, that is you own personal take on the situation, nothing more.


Yes Sminkley - Mine and the majority of the people actually working inside the industry and understanding the concerns of the industry itself. The cold hard facts. Not rose-red tinted glasses.



Originally posted by sminkeypinkey

- Now that kind of talk does surprise me, barely veiled insults if anyone dares disagree. From a mod too.
Decidedly uncool JAK.


Oh the Drama.
*Yawn


Originally posted by sminkeypinkey
Are you losing a little objectivity & having trouble getting a home JAK?


Lmfao!! Yes Sminkley that's exactly it. I only see anything wrong when it personally affects me. Nice closed little world you live in there, some of us care about others and our country - not just a political party.

Unless of course this was a poor attempt at getting under my skin. Are you really that desperate? Surely not? Really Sminkly, come on now. It's amusing that you would even attempt to justify this latest move.

Jak

[edit on 5/9/05 by JAK]



posted on Sep, 5 2005 @ 03:48 PM
link   

Originally posted by JAK
some of us care about others and our country - not just a political party.


- What has this to do with only 'caring about a political party'?
What a ridiculous notion. Come on yourself.

Like I said my point was to present their reasons for doing this, I didn't think it accurate to leave that out.


Unless of course this was a poor attempt at getting under my skin. Are you really that desperate? Surely not?


- Not indeed.


Really Sminkly, come on now. It's amusing that you would even attempt to justify this latest move.


- I haven't tried to 'justify' anything; like I said if the matter is to be discussed then surely to begin with the stated original reasons for it are worth a mention.

Just because the housing market is currently very slow is hardly justification for making out that it has collapsed when clearly it has not.

I have no doubt the situation with first time buyers is not good (not that this is a unique situation).

No doubt if figures show things picking up again in the coming couple of months you'll adjust your view?

BTW no comment about the attempt to expand the privately rented sector then? Nor the attempts to grow affordable housing?
There's surely a hell of a lot more to be concerned with in connection with this than just mere property ownership, right?

[edit on 5-9-2005 by sminkeypinkey]




top topics
 
0

log in

join