If your on the side of foreign investors who are looting our country your either a traitor or a fool.
The following comment on my letter of the 19th June published by The Guardian was posted on TAP Facebook.
If your on the side of foreign investors who are looting our country your either a traitor or a fool.
If your on the side of foreign investors who are looting our country your either a traitor or a fool.. I build for investors so have somewhat of a comprehensive understanding of exactly how it works and what is going where. I'm also passionate about the subject and have been for years now. Land banking is wrong, who is losing out, I'll give you a clue, it's not the tax avoiding investors.......The tax that applies on profits on investments, such as shares, funds or property, is capital gains tax. Every year individuals get a capital gains tax allowance, which is £11,100 across all your investments - any profits below this are not liable for CGT, according to Gov.uk
Above this you pay capital gains tax at either 18 per cent or 28 per cent depending on whether you are a basic rate or higher rate taxpayer, although profits are added to your income to decide in which category you fall.
You can pass assets between a husband and wife, free of tax, so essentially spouses can double up their allowance each year.
Those with large amounts of shares to sell that will mean profits considerably above the CGT allowance, sometimes opt to drip sell them over a number of years. Share prices will inevitably change throughout this time though, which will affect profits.
You can protect investment gains from CGT by holding shares through an Isa.
Alternatively. you can sell shares by speaking to a broker or through a DIY investing platform.
The cost of trading shares varies depending on the platform or broker you are using and whether you are selling your shares online, or in the case of paper certificates (higher cost), on the phone or by post.paying as little taxation as possible, while of course earning money off the back of other people's hard work has much become the prerogative.
HMRC estimates that £2.7 billion was lost through tax avoidance and £4.4 billion through tax evasion in 2013/14. £34 billion is the total value of tax that goes uncollected, estimated from the measure of sold taxable goods, against what has been paid, as well as many other strategies. Some other financial institutes insist it's likely to be closer to 100 billion, depending on what your taking into account with the calculations it's open to debate. Rest assured there is money, it's just in the wrong hands.
One reason you are going to spend 30 years paying off a property of £600,000 that was built for under 80,000. ( yes I have and its in Hove) Is land banking and massive property ownership by foreign based companies.
There is no reason for affordable permanent housing to become a commodity in a 1st world country, let alone one of the wealthiest cities in Europe.
To support this commodity means your supporting the next generations struggle, to have a roof, and be safe from the basic elements. This we learnt how to do this several thousand years ago.
It begs the question, what are our countrymen and woman getting from the expense of this commodity since austerity was enforced and services slashed, although no slashing in taxation. Other than of course more tax breaks for the very companies and individuals who are not only directly contributing to this dire situation, but are profiteering from it foreign & domestic yet not contributing to our society through taxation like you or I, so the British public are getting stuffed, and you'd be very foolish and un-patriotic to support it, also anti British, taking sides with multinational corporations definitely falls under the category anti British, seeing as it is the British being exploited by a foreign entity.
We are a left wing country, you may not like it but that is very much a fact, we have built our values based on fairness, equality, integrity, our culture here is very much defined as a culture of equality, we are not multi cultural.
The understanding and appreciation that although people look different and speak different, we regardless of external influence all deserve the same basic rights. This has made our culture unique, and other nations have followed our lead for a long time. Not on all issues, but equality, the British, generation after generation have been fighting for rights & equality. Many 'lefty loonies' have been abused, beaten or worse for the rights you carry with you everyday perhaps taking them for granted.
Regarding any in-ornate object in higher regard than the well being of your fellow countrymen is anti British values.