tag:blogger.com,1999:blog-1141932539860553199.post2392374834947825991..comments2024-03-05T10:52:24.691+00:00Comments on Mark Wadsworth: Killer Arguments Against LVT, Not (287, 288)Mark Wadsworthhttp://www.blogger.com/profile/07733511175178098449noreply@blogger.comBlogger9125tag:blogger.com,1999:blog-1141932539860553199.post-34737480290640883762012-12-12T12:32:12.741+00:002012-12-12T12:32:12.741+00:00G, the question is answered quite simply by lookin...G, the question is answered quite simply by looking at Business Rates and Council Tax. How many "disputes" are there? Precious few. <br /><br />I've only ever had one company client who disputed a rating assessment (which they won). How many hours have we wasted getting corp tax returns done and handling enquiries (let alone VAT and PAYE enquiries)..?<br /><br />So with a bit of judicious banding and simplified rules, disputes can be kept to a minimum. It's like the dozens of car tax rates, the rates and bands are to some extent arbitrary, but rules is rules.Mark Wadsworthhttps://www.blogger.com/profile/07733511175178098449noreply@blogger.comtag:blogger.com,1999:blog-1141932539860553199.post-4946923244331095172012-12-12T12:28:10.310+00:002012-12-12T12:28:10.310+00:00the debate over at Lib Cpn is even more dispiritin...the debate over at Lib Cpn is even more dispiriting than debates over there generally are. Bob B and his reiterated point about rates tribunals etc....were there really that many disputed domestic rates' disputes? How many income and corp tax disputes are going on currently? I am sure that the number swamps valuation disputes.Graemehttps://www.blogger.com/profile/11007306140530173428noreply@blogger.comtag:blogger.com,1999:blog-1141932539860553199.post-84981295393941365452012-12-12T07:26:05.518+00:002012-12-12T07:26:05.518+00:00RS, true.
But being happy doesn't make these...RS, true. <br /><br />But being happy doesn't make these people happy, only having loads of money (land) makes them happy. It's an addiction. <br /><br />Likewise for Poor Widows - they need to live in mansions because it is humanly impossible for a Poor Widow to be happy in a smaller house or flat. You can ask a Poor Widow in a smaller house or flat what is the one thing which would make her life complete and nine times out of ten, the answer is "I wish I owned a large expensive house to live in by myself"Mark Wadsworthhttps://www.blogger.com/profile/07733511175178098449noreply@blogger.comtag:blogger.com,1999:blog-1141932539860553199.post-86956324137685921132012-12-11T23:35:19.288+00:002012-12-11T23:35:19.288+00:00READ MY LIPS: No one would lose! Even the 1%. It d...READ MY LIPS: No one would lose! Even the 1%. It depends on how you define losing. Happier life. Or more money.<br /><br />Agreed with Derek totally. All debt(paper) is rooted in mortgages and property assets. That is where most 'profit' is. Why not, they rental stream ALWAYS rises tax free.<br /><br />Yes the 1% own a lot of capital assets. But they depreciate and are taxed highly. So avoid if you have a brain.Robin Smithhttps://www.blogger.com/profile/04648517992918303543noreply@blogger.comtag:blogger.com,1999:blog-1141932539860553199.post-70073807188056939102012-12-11T20:06:40.756+00:002012-12-11T20:06:40.756+00:00D, how commercial land and buildings are owned is ...D, how commercial land and buildings are owned is very tricky to work out, as they are owned by companies and REITS (so they belong to shareholders), by banks (via loans, so they belong to bankers and bank depositors), pension funds (so they belong to pension fund members). but commercial land and buildings are only 10% - 20% of the total value of all land and buildings. <br /><br />P, ask him, I was just quoting him that's all.Mark Wadsworthhttps://www.blogger.com/profile/07733511175178098449noreply@blogger.comtag:blogger.com,1999:blog-1141932539860553199.post-30348990386735547922012-12-11T20:03:21.948+00:002012-12-11T20:03:21.948+00:00What are paper investments? What is actually owned...What are paper investments? What is actually owned by the holders of these paper investments?Physiocrathttps://www.blogger.com/profile/13682019625346594568noreply@blogger.comtag:blogger.com,1999:blog-1141932539860553199.post-54900295856587553332012-12-11T17:15:14.110+00:002012-12-11T17:15:14.110+00:00Of course. I was just pointing out that the ONS is...Of course. I was just pointing out that the ONS is underestimating the amount of land held by the top 50% because it appears to be ignoring anything held indirectly via "pension funds and paper investments".Derekhttps://www.blogger.com/profile/06296053477905542366noreply@blogger.comtag:blogger.com,1999:blog-1141932539860553199.post-7023072196679150052012-12-11T16:33:11.440+00:002012-12-11T16:33:11.440+00:00D, possibly, possibly not. But the chances are tha...D, possibly, possibly not. But the chances are that this hypothetical household will also end up better off; the increase in value of non-land investments will more than match fall in value of house; the tax saved on investment income will compensate for the LVT, and so on. <br /><br />So what? The commenter was implying that the "bottom 50%" would end up worse off which is of course nonsense.Mark Wadsworthhttps://www.blogger.com/profile/07733511175178098449noreply@blogger.comtag:blogger.com,1999:blog-1141932539860553199.post-22101266244294477652012-12-11T16:21:04.733+00:002012-12-11T16:21:04.733+00:00Re KLN 288. Even those who own "other investm...Re KLN 288. Even those who own "other investments are quite likely to own investments which derive their income directly or indirectly from land ownership. It would be pretty difficult to create a portfolio which guaranteed no income from land even if you wanted such a thing. Thus even in the case where a wealthier household owns £1M real estate and £2M other investments, a good chunk of the income from those other investments would ultimately be sourced from land. So the household indirectly "owns" that land too.Derekhttps://www.blogger.com/profile/06296053477905542366noreply@blogger.com