Tax significant profits on house sales

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Tax significant profits on house sales

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The proposal: tax profits of over £50k on house sales

The rationale: significant house profits can be accrued as a result of price bubbles, providing a significant source of untaxed, unearned income and help support very high house prices which can be inequitable.
Furthermore, a 20 per-cent tax on a 50k profit would raise 10k in tax, as much as someone on an average salary pays in tax in a year

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