A former Tory treasurer has said scrapping stamp duty would be cost neutral as homeowners would spend more on home improvements. Lord Stanley Fink, who is one of the Conservative’s biggest donors, told the Telegraph Newspaper that high stamp duty bills are stopping even wealthy home movers from spending money on furniture, home decor and extensions as the..
The average cost of moving home has risen to £12,000 for the first time, according to Lloyds Bank. In the last year the total sum, which includes stamp duty, surveyors’ costs, removal services, conveyancing and estate agency fees, has increased by 4% from £11,624 to £12,110. This was largely due to rising stamp duty payments as well as estate agency fees, which rose..
According to the Association of Accounting Technicians, tax rises are not needed to fund increased investment in public services. According to the report, a range of tax shifting measures including moving stamp duty liability from the buyer to the seller could raise over £27bn whilst protecting taxpayers from further tax rises or increased borrowing, The..
There have been a lot of enquiries lately about what how much tax you have to pay when you sell your home, or if you are selling a property you rent out. Below is an easily understandable set of answers from Eastern Daily Press. Don’t forget, you can easily calculate the amount of Stamp..
Completed house sales fell 5.7 per cent last month compared to last year as potential buyers were put off by stamp duty and higher prices in urban areas. House sales also declined three per cent between May and June to 96,370, according to HMRC figures. The Office for National Statistics’ house price index last week revealed that house price growth..
The number of amateur landlords buying new properties is in dramatic decline as recent tax changes come into effect. According to figures from trade body UK Finance, there were 5,500 new buy-to-let home mortgages completed in May, 9.8 per cent fewer than May last year. This could very well be because of the 3 per cent stamp duty..
Although residential property price growth in the UK has been fairly subdued of late, buy-to-let investors are still ably to expect a strong return on investments in certain areas over the next few years. With changes to buy-to-let tax relief and increases in stamp duty creating a challenging investor market, these locations offer a potential goldmine for the..
It has been suggested The Bank of England should use its powers to freeze house prices for the next five years to reduce the chances of another financial crisis The Institute for Public Policy Research said that Britain needed to “reset” the way it thinks about rising prices to break the “cycle of ever-rising house..
New research suggests that many young people in Britain are pessimistic about their likelihood of ever Home ownership. According to a survey from the Building Societies Association (BSA), 70% of us say that the difficulties young people have getting onto the housing ladder is one of the biggest problems we have in Britain today. This is..
The following info is latest available info from the Government on Stamp Duty. For the purpose of Stamp duty Land Tax (SDLT)Non-residential property includes: commercial property, eg shops or offices agricultural land forests any other land or property which is not used as a residence 6 or more residential properties bought in a single..