House price inflation could push 30% of first-tike buyer homes out of break leading mortgage brokers call on government to review relief band. Cities in the south of England will be the worst affected Experts are warning that house price inflation could wipe out the benefits of the stamp duty break for many first-time buyers within..
Millions of first time buyers could no longer qualify for stamp duty relief by 2028 due to rising prices putting them beyond the minimum rates, reports say. According to research from L&C, Around four million homes across England will fall outside the current cut off point that first time buyers start paying the property tax..
If you have kept up to date with the property news in recent years you will have noticed that the number of homeowners in England has been declining. The government even built new homes to encourage people onto the property ladder. At the end of April 2017, the number of homes in England rose by..
The Government has responded to an e-petition, with over 15,000 signatures (at the time of writing this), calling for the re-introduction of full mortgage interest relief and the abolition the 3% stamp duty surcharge. This petition is still running, and asks the government to rethink the current “tax raid” on landlords. Here is the petition..
Stamp Duty Land Tax (SDLT) is paid when you purchase land or property for a certain price in Wales, England or Northern Ireland. The tax affects both leasehold and freehold properties despite whether the purchase is with a mortgage or bought outright. SDLT also applies when buying a property through a shared ownership plan or..
When you sell a property that’s not your only residence you will usually have to pay capital gains tax on it. But can you offset stamp duty against your capital gains tax? This could help to reduce the impact of the costs you need to outlay when you’re buying property. What is capital gains tax?..
Stamp duty, officially referred to as stamp duty land tax (SDLT), is a lump-sum tax that you will need to pay if you buy land or property that amounts to more than a set figure. In Scotland, this is known as land and buildings transaction tax. The rate of tax you need to pay depends..
Stamp Duty Land Tax (SDLT) has to be paid on any buy-to-let property you invest in. The amount payable varies at a rate governed by the price you pay for the property. As of new tax laws implemented in April 2016, the current rates of SDLT for investment properties are as follows: – 3% on..
Stamp Duty Land Tax is a tax levied by the UK Government on all house or land purchases that cost above certain amounts. Therefore, stamp duty could well be payable if you buy land that already has planning permission granted, but it will be levied on the cost of the land and not the potential..
Is stamp duty payable on market value or purchase price? One question we hear a lot is whether stamp duty is payable on the market value of a property or on the purchase price? This is an important question and the simple answer is: if you are buying the house, it is the purchase price…