Unlikely as it seems, after the election, we might find our homes are taxed, and I’m not talking about the trusty old council tax. It is a potentially highly contetious move that could be considered by all parties. With house prices seemingly out of control, especially in London, could this be a final solution to the housing crisis and the increasingly widening wealth gap? This article in the Guardian puts a good case for. www.theguardian.com/commentisfree/2014/apr/18/unthinkable-capital-gains-tax-on-homes
In my view the tax can mean only one thing; fuel for the lack of supply. There will be little incentive to sell if you are likely to lose half your pension; surely wait until the next government repeals the tax or leave it to the kids when you go to that great housing market in the sky? Or perhaps everyone will panic sell causing a crash in prices and little capital gain for the treasury to tax. Whatever might be the outcome, it’s certainly food for thought.