crankthatskunk
BANNED
- Joined
- May 20, 2011
- Messages
- 5,548
- Reaction score
- 5
- Country
- Location
I don't think you understand what "rent-seeking" is.
The very fact that people are buying these things for capital gains is the problem already, full stop.
You are also conveniently totally ignoring the fact that the lords own enormous amounts of land at trivial property taxes.
Here is an article from the horse's mouth if you insist on pretending it's not an enormous problem.
Half of England is owned by less than 1% of the population | Property | The Guardian
I know about UK, I am a Land Lord too. The Queen is among the top Land Lords in the UK. we all know it.
What I am objecting is your lack of understanding of taxes on properties and Rental Income in the UK.
Now that you have mentioned Capital Gain Tax. we Pay Capital Gain Taxes as high as 40% on disposable of any property except your main resident. If Children get inheritance , they pay inheritance tax as high as 40% . so Properties are tax on every level.
Get educated my friend.