Bedroom Tax for the rich? I don’t think so!
There is much talk in the press about the Mansion Tax.
I personally don’t expect this tax to amount to much.
There are expected to be exemptions, all of which I envisage being exploited by the wealthy.
For example, one exemption is expected to be for those paying the basic rate of tax, the idea being, I assume that you may have been able to afford to buy a multi-million pound house but have found yourself on ‘hard times’ and should not be expected to pay.
Any decent tax lawyer will sort out that little problem for you. And since many of these homes are investments, the wealthy will buy several ‘cheaper’ properties instead.
Better to return to a rates system, calculated on the value of your home and just like victims of the bedroom tax, pay or get the flick out!
Sorry, Ed; sounds good on paper and grabs the headlines but I fear it is another neo-liberalist/capitalist ploy to placate the masses, while the wealthy will be little affected.