Let’s be a bit careful - non-EU people can still be RESIDENT in the EU.
This isn’t a tax on immigrants’ homes, it’s a tax on holiday homes.
Other than that, yes I agree. We should be looking at bold progressive taxation like this.
Why don’t we have one on second homes for a start?
This isn’t a tax on immigrants’ homes, it’s a tax on holiday homes.
Other than that, yes I agree. We should be looking at bold progressive taxation like this.
Why don’t we have one on second homes for a start?
Reposted from
Anna Clarke
We tinker around in the UK with 1% or 2% increases on stamp duty paid by overseas buyers. Meanwhile, Spain is proposing a 100% tax on non EU people buying property 😲
www.bbc.co.uk/news/article...
www.bbc.co.uk/news/article...
Comments
Or two paid for us if you're Esther McVey.
All perfectly legal of course… 🙄
I have a similar issue and truss nearly bolloxed it up when mortgages went through the roof
Me taking the money out to gift would have incurred a huge tax bill
I need a lottery win to balance the books
It may not be what was meant but it has the same effect
Amount of revenue raised will be zero.
Also reporting was unclear if it’s it only applies if you are non-eu + nonresident which I assume is.
Re your previous post this am. If Keir starts austerity cuts, he’s doomed. And Farridge will fill that void. I can see that, you can, many can…why can’t @teamlabouruk.bsky.social ?
It’s instant sign , pay , exchange . All done through public notary .
Papers then sent to tax office , who , if they think you’ve under paid tax will come after you . No escape ! Can’t sell if you owe the tax .
Is it paid only once, at the time of the purchase, or are there continuing payments?
If you are not resident , there is a withholding tax, when you sell, as you pay on your capital gain unless you buy again .
All legal transfers go thro notary who sends papers to tax office . Banks also send tax office a yrly statement of your finances!
Not least because it wouldn’t achieve anything much (the places where non-EU nationals buy second homes are not the places where there are significant housing shortages for locals).
They fail to understand many on the left only lent Starmer their votes! Expectations are high for progressive change!
If we then ring fence that tax for social housing...