The Student Room Group

Gentrification genuine cause for concern or not?

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Original post by scrotgrot
If such a law was introduced and they sold up, the houses wouldn't disappear: on balance, they'd be bought by the tenants.


There's probably a larger likelihood that people renting elsewhere would buy them displacing current tenants.
Original post by Bill_Gates
They don't you can do it. You just need to pay the taxes due before you do it.


...Thus defeating the object of the avoidance scheme...
Original post by TurboCretin
...Thus defeating the object of the avoidance scheme...


Nope you said we should tax people with more than two houses. You would still need large scale homebuilders/landlords due to efficiency and it's silly to tax these people for having more than one property. So i said they would just operate as a business. Once it's set up as a business they would avoid the "heavy taxes" you called for.

lol.
Original post by Bill_Gates
Nope you said we should tax people with more than two houses. You would still need large scale homebuilders/landlords due to efficiency and it's silly to tax these people for having more than one property. So i said they would just operate as a business. Once it's set up as a business they would avoid the "heavy taxes" you called for.

lol.


No I didn't, that was someone else.

I was just talking about the tax avoidance issue - HMRC can and does look behind company structures where they're used for avoidance purposes. Take IR35, for example, which was legislation brought in to stop people avoiding paying NICs (and paying lower rates of tax) by employing themselves through a personal service company, rather than directly as an employee.
Original post by Rakas21
I like gentrified areas. People should have some class.

Stop buying 10 pints in the pub and have a nice evening at the winery.


Mate, you're unemployed. Stop putting on an act.
Original post by TurboCretin
No I didn't, that was someone else.

I was just talking about the tax avoidance issue - HMRC can and does look behind company structures where they're used for avoidance purposes. Take IR35, for example, which was legislation brought in to stop people avoiding paying NICs (and paying lower rates of tax) by employing themselves through a personal service company, rather than directly as an employee.


But my point still holds. That is still a plausible way to go about it. That's only one issue if you are a genuine contractor i.e builder then it's no problem. The best HMRC can do is bring about legislation change not actively prosecute. I know many BTL's moving towards company set ups now but it doesn't always mean they're better off necessarily. But it would be a way to avoid heavy taxes.
Yes, locals are getting ousted out in some places by rising rents due to people from other areas moving in and the area being "regenerated" ergo higher house prices.
Original post by Danny the Geezer
Yes, locals are getting ousted out in some places by rising rents due to people from other areas moving in and the area being "regenerated" ergo higher house prices.


Not good for Lahndan is it brah. Fur pund fortee for a buwl of cheerios, havin a larf.
Original post by Bill_Gates
Not good for Lahndan is it brah. Fur pund fortee for a buwl of cheerios, havin a larf.


'avin a Steffi!!
Original post by Rakas21
Ironically I come from the underclass. I just don't act or speak like it.


There is nothing worse than a working class person trying to fit in with the middle or upper class.
Original post by Gears265
You can tell someone does not have a job when they violently protest like this. People like this and the rioters in previous years should be shown true brute force.


The left are such a loud voice because they have so much free time. Signing on is only every week? Or is it fortnight? But call it every week. They can thus spend the rest of the time when others are working campaigning or in this case trashing the businesses that pay for their upkeep.

So the left are always going to be louder than the right; however, come election time one man one vote sees the left vanish.

Seeing the Tories get a majority was beautiful, especially after Russel Brand and Miliband convinced them they were going to win. I can't wait until this election; the lefties (including those on here) will be literally having a fit. At the same time though UKIP/the Tories will be saving England from Labour rule.
*Sadly not Wales. Wales always votes in Labour. A good case study if you want to see what happens if Labour is around for too long. See the state of child poverty, the NHS, earnings and their economy, the lot.
Original post by Bill_Gates
A few large firms have in London (Cheaper parts). They are obviously rented out to the grads at market rates (sometimes slightly below just like Universities). It's just to make sure they have somewhere to stay.

Starbucks will offer £1000 towards deposits for new employees soon.


I did wonder if this might happen. Of course the largest have long offered interest-free loans, aka deposit help
Original post by Rakas21
There's probably a larger likelihood that people renting elsewhere would buy them displacing current tenants.


I don't mind that. As long as home ownership is extended to more people at the expense of those owning more than one or two houses.

I am not too concerned with gentrification, i.e. richer outsiders buying them, per se, although a well socially engineered mix of classes, backgrounds and tenure types is preferable otherwise it leads to geographic inequality, ghettoisation and poor quality of life (commuting) for the low-paid. The housing market is so screwed that is a secondary concern though
(edited 8 years ago)
Original post by Bill_Gates
But my point still holds. That is still a plausible way to go about it. That's only one issue if you are a genuine contractor i.e builder then it's no problem. The best HMRC can do is bring about legislation change not actively prosecute. I know many BTL's moving towards company set ups now but it doesn't always mean they're better off necessarily. But it would be a way to avoid heavy taxes.


If you are a genuine developer, you would very likely use a corporate structure anyway. I thought we were talking about individuals using corporate entities to avoid tax - if you do that without a parallel legitimate commercial purpose you will likely find that HMRC disregards your scheme and taxes you as if it were not there.

I feel like we must be talking at cross purposes here...
Reply 34
Everywhere becoming samey isn't great and higher rents are crap.

But gentrification means less crime and generally more economic opportunities, so it's not all bad.

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Original post by Rakas21
Ironically I come from the underclass. I just don't act or speak like it.


The fact that you just called it "the underclass" makes me doubt that
Original post by Bill_Gates
So it's currently a major issue in London and many other cities across the world and the rest of the UK.

Is it something we should be genuinely concerned about? communities being displaced due to the nature of how a city "develops". In respect to recent "protests" at the cereal killer cafe.

Has your area been influenced?


The problem is low skilled immigration and over breeding.

Perhaps they should be attacking immigrant neighbourhoods.
Original post by TurboCretin
If you are a genuine developer, you would very likely use a corporate structure anyway. I thought we were talking about individuals using corporate entities to avoid tax - if you do that without a parallel legitimate commercial purpose you will likely find that HMRC disregards your scheme and taxes you as if it were not there.

I feel like we must be talking at cross purposes here...


You will find HMRC will not bother. People do it all the time. Setting up companies just to pass on wealth to their grand kids, perfectly legitimate.
Original post by democracyforum
The problem is low skilled immigration and over breeding.

Perhaps they should be attacking immigrant neighbourhoods.


Haha clearly you don't understand gentrification. That was an "immigrant neighbourhood" whatever one maybe.
Original post by i<3milkshake
The left are such a loud voice because they have so much free time. Signing on is only every week? Or is it fortnight? But call it every week. They can thus spend the rest of the time when others are working campaigning or in this case trashing the businesses that pay for their upkeep.

So the left are always going to be louder than the right; however, come election time one man one vote sees the left vanish.

Seeing the Tories get a majority was beautiful, especially after Russel Brand and Miliband convinced them they were going to win. I can't wait until this election; the lefties (including those on here) will be literally having a fit. At the same time though UKIP/the Tories will be saving England from Labour rule.
*Sadly not Wales. Wales always votes in Labour. A good case study if you want to see what happens if Labour is around for too long. See the state of child poverty, the NHS, earnings and their economy, the lot.


Well more people voted for UKIP than plaid in Wales in May. Come the Welsh assembly vote which is a different voting system done by vote share, already UKIP are expected to take a decent number of seats. They are on around 15% of the vote share with Tories on 22% or around that. Labour are high at around 38% but if things get worse for Labour it is while small entirely possible we see a UKIP/Tory coalition. People are getting sick of Labour in Wales, Labour can only hold onto it for so long.

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