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It strikes me that many of the changes like this (CGT within 30 days, APNs etc.) exist purely to boost HMRC statistics.
When HMRC report on the "success" of such schemes, they only report the take, and never what they have had to give back later. This makes it look like they are doing a better job than they actually are.
It's basically a statistical con at the expense of honest taxpayers.
well HMRC could always charge both buyer and seller SDLT like auctioneers. They could do this and allow the sellers SDLT as a deduction from any CGT payable later.
Hmrc’s new primary objective is “maximise revenues”. It’s on their website. What became clear very recently was that all civil service departments have targets.
When a business is in trouble it will often try to accelerate income
The previous heads of HMRC have received Honours and a large pension top up
How about they are getting ready for a future change in the law to tax to CGT all property sales and do away with the exemption for primary residence?
In all the property sales I have to calculate the CGT on they have land well in excess of 1/2 Hectare and it takes months for surveyors to produce a detailed report and valuations. It would be physically impossible to even have a vague idea of the figures in this case within 30 days.
This is another clear example of HMRC not having a clue about what happens in the real world.
Richards 1 is about right. I have heard this mooted several times.
It joins CGT, SDLT and IHT - basically the taxes on inflation caused by the government's mismanagement of the economy. Gordon Brown being the main culprit because he could see lots of money coming in that he could then dole out to the indigent to gain their votes.
May seems to be on the same ploy but it won't work for her because she is hitting her own power base.
Still a dose of Corbyn would see us like Russia with the Rich getting richer and the poor getting poorer and living in Soviet style apartment blocks that are very evident as you travel from the airport to Moscow. In Moscow, inside the garden ring, all is different. The Range Rovers, Porsches, Bentleys and Mercedes all have their bodyguards, many armed and the owners even have armed guards outside their hotel rooms sometimes.
Sounds to me like the devil and the deep blue
O Brave New World....
Richards 1 is about right. I have heard this mooted several times.
It joins CGT, SDLT and IHT - basically the taxes on inflation caused by the government's mismanagement of the economy. Gordon Brown being the main culprit because he could see lots of money coming in that he could then dole out to the indigent to gain their votes.
May seems to be on the same ploy but it won't work for her because she is hitting her own power base.
Still a dose of Corbyn would see us like Russia with the Rich getting richer and the poor getting poorer and living in Soviet style apartment blocks that are very evident as you travel from the airport to Moscow. In Moscow, inside the garden ring, all is different. The Range Rovers, Porsches, Bentleys and Mercedes all have their bodyguards, many armed and the owners even have armed guards outside their hotel rooms sometimes.
Sounds to me like the devil and the deep blue
O Brave New World....
'All that was a party political broadcast by the Conservative Party........'
All within the same week as the local elections.
cynicism?
Anyhow, back to the OP, this all stinks of stats and nothing to do with simplification.
Just by saying it's simpler doesn't make it so.
Never mind more nonsense the whole things nonsense dreamt up by people who have no clue.
They really need to get out in the real world. Ivory tower people with no clue how things are out here, continually making up new rules without any thought on how they work in practice.
The last thing a client selling one of his property portfolio properties will be thinking about is making sure all the details are ready within 30 days to make a return!