November Budget
Comments
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Great budget. What are you pinkos moaning about? Wind yer necks in...1
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Surprised nothing on pensions tax relief etc like @golfaddick
Stamp duty for FTB's just in time for all the amateur landlords to dump property, call me cynical...... that said it might help some get on the ladder, I remember selling a property back in 07 which stuck a bit as it fell into the then higher stamp duty bracket. I ended up paying the buyers stamp duty and getting a higher sale price, by doing that I had a queue of buyers.
Fairly tame budget really but then we are a way away from an election apparently.0 -
Paid £8k less than a month ago after saving hard for bloody years. Fuming!!Covered_End_Lad said:Scrapped 1st time buyer stamp duty 2 months after i buy my first place. Good idea, shit timing.
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First time buyers, buying up to £500K, what world do these people live in?Rothko said:3 -
Just about gets you a garden shed in Bromleyguinnessaddick said:
First time buyers, buying up to £500K, what world do these people live in?Rothko said:0 -
Does partly depend on age of first time buyer and where they are on their career path, but two city workers earning 50k each could easily borrow up to 475k.guinnessaddick said:
First time buyers, buying up to £500K, what world do these people live in?Rothko said:2 -
If stamp duty and a railcard is how the Conservatives are hoping to persuade the young voters to join them, they're screwed.
Other than that they've literally done nothing of note. Too scared to.2 -
Go on then, enlighten us.soapy_jones said:Great budget. What are you pinkos moaning about? Wind yer necks in...
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Two city workers, that will go down well with the rest of the country.Rob7Lee said:
Does partly depend on age of first time buyer and where they are on their career path, but two city workers earning 50k each could easily borrow up to 475k.guinnessaddick said:
First time buyers, buying up to £500K, what world do these people live in?Rothko said:1 -
Due to complete the purchase of my first property on Friday, big up Phillip Hammond for scrapping the Stamp Duty charge9
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Lucky you, Greenie. Enjoy that feeling, mate.
We just completed our first house purchase last Friday at 300k. The 5k stamp duty we just paid would have bought a lot of furniture!
This coupled with losing 15k by transferring my cash back from China BEFORE the Brexit vote and adding the 12k I’ve paid in rents over last two years because I didn’t dare buy until the Mrs’ immigration status was secured (see Mrs. May’s savings/earnings requirement for partners of non-EU spouses) means I’m feeling a bit hard done by.
5 freaking days too early.... 5 freaking days!1 -
Did you (or Mrs Siv) previously own property in China? If so, the change would not have helped you, according to Sky News: "The Treasury says residential property anywhere in the world is counted when determining...." the first-time buyer status.Siv_in_Norfolk said:Lucky you, Greenie. Enjoy that feeling, mate.
We just completed our first house purchase last Friday at 300k. The 5k stamp duty we just paid would have bought a lot of furniture!
This coupled with losing 15k by transferring my cash back from China BEFORE the Brexit vote and adding the 12k I’ve paid in rents over last two years because I didn’t dare buy until the Mrs’ immigration status was secured (see Mrs. May’s savings/earnings requirement for partners of non-EU spouses) means I’m feeling a bit hard done by.
5 freaking days too early.... 5 freaking days!0 -
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The rest of the country will be fine as they'll be catered for in the £300k limit (in the main). Your question was FTB's buying up to £500k what world do these people live in. Clearly they live in a London/South Eastern and maybe some other major city/areas around the country.guinnessaddick said:
Two city workers, that will go down well with the rest of the country.Rob7Lee said:
Does partly depend on age of first time buyer and where they are on their career path, but two city workers earning 50k each could easily borrow up to 475k.guinnessaddick said:
First time buyers, buying up to £500K, what world do these people live in?Rothko said:
Try finding something in say Clapham, Balham, Richmond and numerous other places for under 300k.1 -
Cheers mate, that's gutting for you, but I'm sure the new house will be spot on for you, all the bestSiv_in_Norfolk said:Lucky you, Greenie. Enjoy that feeling, mate.
We just completed our first house purchase last Friday at 300k. The 5k stamp duty we just paid would have bought a lot of furniture!
This coupled with losing 15k by transferring my cash back from China BEFORE the Brexit vote and adding the 12k I’ve paid in rents over last two years because I didn’t dare buy until the Mrs’ immigration status was secured (see Mrs. May’s savings/earnings requirement for partners of non-EU spouses) means I’m feeling a bit hard done by.
5 freaking days too early.... 5 freaking days!0 -
Nah... first time anywhere....cafcfan said:
Did you (or Mrs Siv) previously own property in China? If so, the change would not have helped you, according to Sky News: "The Treasury says residential property anywhere in the world is counted when determining...." the first-time buyer status.Siv_in_Norfolk said:Lucky you, Greenie. Enjoy that feeling, mate.
We just completed our first house purchase last Friday at 300k. The 5k stamp duty we just paid would have bought a lot of furniture!
This coupled with losing 15k by transferring my cash back from China BEFORE the Brexit vote and adding the 12k I’ve paid in rents over last two years because I didn’t dare buy until the Mrs’ immigration status was secured (see Mrs. May’s savings/earnings requirement for partners of non-EU spouses) means I’m feeling a bit hard done by.
5 freaking days too early.... 5 freaking days!
Can’t see how they would trace property ownership outside of EU/West!1 -
Does anyone know how much the first time buyer policy is costing the treasury to create the estimated 3500 extra buyers?0
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Genuine good for you mate but I feel royally screwed over. Saving for over a decade without any bank of mum and dad etc and earning pittance interest and finally buy (and stretch ourselves to avoid moving again soon what with stamp duty etc) and bang..... Weeks later Int rates rise and stamp duty abolished. £6.5k grrrrr!!Greenie Junior said:Due to complete the purchase of my first property on Friday, big up Phillip Hammond for scrapping the Stamp Duty charge
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Yeah, I wondered that too. A bit like the Yanks asking on a visa application whether you've ever been a terrorist or involved in any way in persecutions associated with Nazi Germany or its allies.. I wonder whether, in the whole history of the US of A visa regime, anyone at all, ever, has been dumb enough to say yes to that question?Siv_in_Norfolk said:
Nah... first time anywhere....cafcfan said:
Did you (or Mrs Siv) previously own property in China? If so, the change would not have helped you, according to Sky News: "The Treasury says residential property anywhere in the world is counted when determining...." the first-time buyer status.Siv_in_Norfolk said:Lucky you, Greenie. Enjoy that feeling, mate.
We just completed our first house purchase last Friday at 300k. The 5k stamp duty we just paid would have bought a lot of furniture!
This coupled with losing 15k by transferring my cash back from China BEFORE the Brexit vote and adding the 12k I’ve paid in rents over last two years because I didn’t dare buy until the Mrs’ immigration status was secured (see Mrs. May’s savings/earnings requirement for partners of non-EU spouses) means I’m feeling a bit hard done by.
5 freaking days too early.... 5 freaking days!
Can’t see how they would trace property ownership outside of EU/West!0 -
Cheers mate, I'm sorry to hear that mate, it's proper shit. Let's just hope that maybe you can recoup your money in the future through house prices rising or something!The Organiser said:
Genuine good for you mate but I feel royally screwed over. Saving for over a decade without any bank of mum and dad etc and earning pittance interest and finally buy (and stretch ourselves to avoid moving again soon what with stamp duty etc) and bang..... Weeks later Int rates rise and stamp duty abolished. £6.5k grrrrr!!Greenie Junior said:Due to complete the purchase of my first property on Friday, big up Phillip Hammond for scrapping the Stamp Duty charge
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Hahaha @cafcfan0
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GDP New forecasts (March forecast in brackets)
2017 1.5 (2)
2018 1.4 (1.6)
2019 1.3 (1.7)
2020 1.3 (1.9)
2021 1.5 (2.0)
2022 1.6
1-2% a year growth for the next 5 years is dreadful.0 -
Bournemouth Addick said:
Does anyone know how much the first time buyer policy is costing the treasury to create the estimated 3500 extra buyers?
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According to the BBC calculator I'll be £20 per month better of in terms of income tax and national insurance... I really, really, don't need a tax break (however small) and to say otherwise when public services are crumbling and people are in abject poverty would be unconscionable6
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Just done the calculator and I'm exactly the same, but in real terms with inflation running at 3% we'll be poorer in real terms unless our incomes go up.McBobbin said:According to the BBC calculator I'll be £20 per month better of in terms of income tax and national insurance... I really, really, don't need a tax break (however small) and to say otherwise when public services are crumbling and people are in abject poverty would be unconscionable
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Jeez that's worse than I thought if true. I suppose there will be an increased tax take in the event it pushes prices up further though to help offset this. Not that that helps with raising deposits, etc.guinnessaddick said:Bournemouth Addick said:Does anyone know how much the first time buyer policy is costing the treasury to create the estimated 3500 extra buyers?
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No one mentioning the NHS? They arent happy, but its a step in the right direction.
From the Beeb
The extra money announced by the chancellor in the Budget for the NHS in England is not enough, health service bosses say.
Philip Hammond announced an immediate £350m boost for this winter followed by £1.6bn more next year for the front line above the rise already planned.
The chancellor described it as an "exceptional" measure, which recognised the pressures the service was under.0 -
If it's any consolation, almost every recent major tax change seems to have been timed to stitch me up.
I missed out on the benefit from the last SD restructure three or so years ago which cost me over £3k extra, and they did away with CGT indexation AND increased income tax on trusts just as I had to deal with the winding up of a family trust and disposal of a property. And no indexation on property is an outrage, particularly as I'd spent a fair bit on it to increase the value, not strictly allowable for CGT purposes.
My attitude to paying tax has changed over the last few years from being a strict by-the-book payer to using every legal strategy I can to reduce my bill.
I'm just playing by their rules.
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I shall be writing to HMRC to tell them to keep my additional £3.80 a week as a result of the budget so they can spend it instead on investigating those bastard mega corps who are stealing money from the general public by not paying what they actually should do.
So shove that in your mocha choca skinny latte with almond milk and tofu sprinkles tossers.3 -
It is a step in the right direction but I will wait to see the details as this government (and the Coalition) have a bit of previous with the NHS.Floyd Montana said:No one mentioning the NHS? They arent happy, but its a step in the right direction.
From the Beeb
The extra money announced by the chancellor in the Budget for the NHS in England is not enough, health service bosses say.
Philip Hammond announced an immediate £350m boost for this winter followed by £1.6bn more next year for the front line above the rise already planned.
The chancellor described it as an "exceptional" measure, which recognised the pressures the service was under.
In the past they have double counted money by moving money from one place to another, added additional responsibilities that needed to be paid for with the new budget and don't adjust for inflation. They have said that they will fund the next pay rise separate from the NHS budget but have previously said that all pay rises would need to be funded from the existing budget.1 -
£350m boost for a whole season is very different to £350m a weekFloyd Montana said:No one mentioning the NHS? They arent happy, but its a step in the right direction.
From the Beeb
The extra money announced by the chancellor in the Budget for the NHS in England is not enough, health service bosses say.
Philip Hammond announced an immediate £350m boost for this winter followed by £1.6bn more next year for the front line above the rise already planned.
The chancellor described it as an "exceptional" measure, which recognised the pressures the service was under.
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