Quote:
Originally Posted by Chris
This week’s diarrhoea of policy announcements is looking increasingly like a core-vote strategy, in a desperate attempt to avoid them getting wiped out at the next general election. I can’t believe he thinks inheritance tax cuts actually have broad appeal.
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Well it works for me. I hope in their desperation they come up with more stuff.
Rishi, should be treating every other month as giveaway month. There’s loads of stuff he could do, cheaply too.
The majority Labour has to overturn is so big, the Tories just need to hang on to a few of those seats, and we get a Labour govt without a majority, or less likely a hung parliament.
Rishi, should shamelessly go on the offensive.
---------- Post added at 22:30 ---------- Previous post was at 21:47 ----------
Quote:
Originally Posted by Chris
You haven’t been taxed on the truly colossal capital gain you’ve made on your family home (assuming you’ve been a mortgage-paying homeowner, and I’m pretty sure you have).
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“Colossal”…..let’s not assume anything Chris, we both know where that leads.
We bought our current property in 2008, ( I wasn’t going to give actual values but I think I will, and everyone can judge me) at the height of the market for £400K, and everything went south. Probably lost a third or more of its value. But we we weren’t selling, so We spent around £250K extending and converting.
In the last 15yrs we’ve spent at least another 200K. At least, probably more. Improving the curtilage of the property. Not forgetting how much you spend just maintaining everything. Not to sell on as an investment, but to enjoy and for my families future enjoyment and security.
We’re not finished, currently redoing the bathrooms, and I hope to do more, maybe even build an Annexe, but i reckon we’ve spent well over a million and more, upgrading and maintenance.
The property, is probably only worth about a million. This is Yorkshire a stone barn with near an acre of land. Not a 3 bed semi on London probably worth more. So I’ve made no money, and not looked to make money. It’s about quality.
So don’t tell me I’ve made a colossal amount of money when I haven’t.
And I have paid tax when I bought it, and on everything I’ve done to it ever since. And I shouldn’t have to pay tax when my kids get it.