tag:blogger.com,1999:blog-7156218446024820676.post6056830390770063962..comments2023-05-17T10:38:12.901+00:00Comments on TaxBuzz for the Tax Advice Network: Lib Dems property tax suffers same fate as plans for local income taxMark Leehttp://www.blogger.com/profile/11524316185528362603noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-7156218446024820676.post-26460708317313997122009-09-25T18:21:34.370+00:002009-09-25T18:21:34.370+00:00Whilst generally not having a problem with somethi...Whilst generally not having a problem with something broadly along the lines suggested by born-again Vince, one has to wonder over the cackhanded nature of the announcement. People living outside of London may well think that everyone in London is loaded and lives in mansions, but the reality is very different. When many cannot afford the most mediocre of two bed flats, at say £500K, to imply to the uninformed that £1M buys a mansion is laughable. <br /><br />Whilst I tend to the view that Cable is a strawman and a hypocrite (you don't spend years as chief economist of a multi national oil company without getting your hands seriously dirty with international tax avoidance), even within the man's limitattions, one has to wonder over how he didn't see fit to pitch in at, say, £5M plus, and at a higher percentage.Andrewhttp://taxtrust.netnoreply@blogger.comtag:blogger.com,1999:blog-7156218446024820676.post-21256198736803438492009-09-25T06:37:39.351+00:002009-09-25T06:37:39.351+00:00Martin Wolf writes about this issue in today's...Martin Wolf writes about this issue in today's FT -p.17. <br />I agree with his arguments: property is easy to tax as it doesn't move. It is also relatively easy to value - as Martin says all you need is data on recent transactions and a computer program. You won't get a perfect result, but a pretty good sample to base broad valuations on. <br />Due to valuation uncertainties the mansion tax should be based on bands, like council tax. As such it will look like an extension of council tax, which the Lib Dems wanted to abolish!Beckyhttps://www.blogger.com/profile/06825101709070079346noreply@blogger.com