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 Royal Institution of Chartered Surveyors (Rics) said getting rid of stamp duty on certain properties could help re-balance the market and reignite activity. Surveyors nave said an overhaul of “outdated” property taxes could give the housing market a much needed boost. Rics said the Government should investigate the changes that are needed to create a more vibrant..
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..
Over the next five years, it is estimated that the government’s flagship housing policy will help over 1 million people get onto the housing ladder. The following information is from the Government website: 121,500 first-time buyers have saved a total of £284,000,000 thanks to the government’s cut to stamp duty, according to official statistics released today..
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..
Many people are interested to know whether stamp duty on transfer of property between spouses is payable since married couples often transfer properties and other assets to each other. The following information from the Government website should make this information clear: You may need to pay SDLT when all or part of an interest in land or property..
One of the most asked question about stamp duty is whether it is tax deductible or not. Here is some information from the government website which will help you work out whether or not this will be the case for you Work out your gain Also you can use our Stamp Duty Calculator to work..
