Re: Parliament passes Stamp Duty
Some aspects of this story are puzzling, in particular about the delay in registering the land one has bought, because the seller hasn’t paid the capital gains tax. Once the money has exchanged hands, isn’t the land yours to do whatever? The transaction has been completed.
What happens to the seller and the money received is up to the seller and the government. If the seller decides not to pay the capital gains tax, then the government can chase the seller but this should not hold up the registration of the land by the new owner.
Somebody once defined tax avoidance as the method by which the rich get richer because they have access to excellent financial advice.
The poor and those who have nothing to claim or deduct don’t have to worry about tax avoidance. Tax evasion on the other hand, is when the rich run out of tax loopholes to use. Which one of these methods does the PM favour? It is not hard to guess.