For decade’s home owners with or without mortgages have been easy taxation targets by successive Governments. If in doubt, to raise more taxes, certain Political Parties resort to the time honoured predictable approach of taxing family homes on the basis of value rather than the ability for the owner to pay. And even more worrying the property value banding assessments politicians base tax levies on, are completely out of date and wholy discriminatory.
Stop the Mansion TaxThe Labour Party and the Liberal Democrats want to tax areas where they feel are politically popular. They call it, for totally re-election positioning, a fairer way to obtain tax revenue from those who are perceived to be wealthy. How wrong they are! The current taxation of the family home through Council Tax, Stamp Duty, IHT and Capital Gains is unbalanced, punitively unfair and ill-thought out. And now there is the spectre of the emotively named "Mansion" Tax.
In just 5 days, 16,000 supporters of more equitable home taxation have signed up to the FairHomeTax Campaign. They call on MPs to make family home taxation fairer and to debate this issue in Parliament now. The FairHomeTax Campaign is not fighting for lower taxes per se, but for fairer and equitable taxation for all UK Home owners. It's now time to review the whole taxation system on our family homes and to say no to Labour's Mansion Tax.