{"id":28667,"date":"2013-02-17T10:34:15","date_gmt":"2013-02-17T09:34:15","guid":{"rendered":"http:\/\/www.huffingtonpost.co.uk\/2013\/02\/17\/lib-dems-mansion-tax-plan_n_2704955.html?utm_hp_ref=uk-politics?ncid=GEP"},"modified":"2013-02-17T10:34:15","modified_gmt":"2013-02-17T09:34:15","slug":"tax-on-holiday-homes-jewellery-paintings","status":"publish","type":"post","link":"http:\/\/rinf.com\/alt-news\/breaking-news\/tax-on-holiday-homes-jewellery-paintings\/","title":{"rendered":"Tax On Holiday Homes, Jewellery, Paintings"},"content":{"rendered":"
\n

Owners of holiday homes and rental properties would be drawn into paying a “mansion tax” under Liberal Democrat<\/a> proposals to extend the policy beyond \u00a32 million main residences.<\/p>\n

An internal policy consultation has concluded there “may be merit” in imposing the 1% levy instead on anyone with a land and property portfolio worth above the same threshold.<\/p>\n

The document, to be debated by activists at the party’s spring conference next month, includes a number of radical options, including a French-style wealth tax on assets such as jewellery and paintings.<\/p>\n

\"mansion\"<\/p>\n

Holiday homes could be included in the \u00a32m threshold for mansion tax<\/strong><\/p>\n

The proposals emerged as Labour<\/a> – which this week backed the idea of a mansion tax to fund the return of a 10p income tax rate – challenged the Lib Dems to support it in a Commons vote.<\/p>\n

The party played down the prospect of it adopting the idea of a “net wealth tax” – which would involve tax inspectors visiting people’s homes to verify the value of declared items such as jewellery and paintings.<\/p>\n

LIKE HUFFPOST UK POLITICS ON FACEBOOK<\/a> | FOLLOW US ON TWITTER<\/a><\/p>\n

Extending the mansion tax was reported to be favoured by some within the party as a vote-winner in the South West, where there is anger over second-home buyers forcing up prices.<\/p>\n

But senior figures are also believed to have concerns that the move – in a package drawn up as part of preparations for the 2015 general election manifesto – could see some people taxed twice.<\/p>\n

Landlords already pay tax on any rent they receive.<\/p>\n

MP Tessa Munt, one of those who helped draw up the consultation paper, told the Mail on Sunday it was an “interesting idea” and would be put to activists in Brighton.<\/p>\n

But the document says it would be “generally quite complex to administer” and party Treasury spokesman Stephen Williams said he expected it to be “firmly spiked” by activists.<\/p>\n

A Lib Dem spokesman said: This consultation is part of the process of asking for ideas on how to ensure a fairer tax system.<\/p>\n

“It is up to Lib Dem party members as to whether these eventually become party policy.”<\/p>\n<\/div>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

\n

Owners of holiday homes and rental properties would be drawn into paying a “mansion tax” under Liberal Democrat<\/a> proposals to extend the policy beyond £2 million main residences.<\/p>\n

An internal policy consultation has concluded there “may be merit” in imposing the 1% levy instead on anyone with a land and property portfolio worth above the same threshold.<\/p>\n

The document, to be debated by activists at the party’s spring conference next month, includes a number of radical options, including a French-style wealth tax on assets such as jewellery and paintings.<\/p>\n

\"mansion\"<\/p>\n

Holiday homes could be included in the £2m threshold for mansion tax<\/strong><\/p>\n

The proposals emerged as Labour<\/a> – which this week backed the idea of a mansion tax to fund the return of a 10p income tax rate – challenged the Lib Dems to support it in a Commons vote.<\/p>\n

The party played down the prospect of it adopting the idea of a “net wealth tax” – which would involve tax inspectors visiting people’s homes to verify the value of declared items such as jewellery and paintings.<\/p>\n

LIKE HUFFPOST UK POLITICS ON FACEBOOK<\/a> | FOLLOW US ON TWITTER<\/a><\/p>\n

Extending the mansion tax was reported to be favoured by some within the party as a vote-winner in the South West, where there is anger over second-home buyers forcing up prices.<\/p>\n

But senior figures are also believed to have concerns that the move – in a package drawn up as part of preparations for the 2015 general election manifesto – could see some people taxed twice.<\/p>\n

Landlords already pay tax on any rent they receive.<\/p>\n

MP Tessa Munt, one of those who helped draw up the consultation paper, told the Mail on Sunday it was an “interesting idea” and would be put to activists in Brighton.<\/p>\n

But the document says it would be “generally quite complex to administer” and party Treasury spokesman Stephen Williams said he expected it to be “firmly spiked” by activists.<\/p>\n

A Lib Dem spokesman said: This consultation is part of the process of asking for ideas on how to ensure a fairer tax system.<\/p>\n

“It is up to Lib Dem party members as to whether these eventually become party policy.”<\/p>\n<\/div>\n

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