stamp duty
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Features
Stamp Duty is killing market growth
The Stamp Duty Land Tax on a £5m home in London would buy a beautiful villa in Italy, says Andrew Symington, Symington Elvery.
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Latest property news
More calls to scrap Stamp Duty
“SDLT isn’t a Stamp, it’s not a duty and its not based on land! It’s just a tax,” says Chairman of The Society of Licensed Conveyancers.
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Latest property news
Stamp Duty hike raises £424 million extra for HMRC in three months
Most of the revenue came from sales of properties sold for less than £250,000.
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Latest property news
Cut Stamp Duty in half!
Government policies on landlord taxation aren’t helping tenants and the 3 per cent surcharge on buy-to-let purchase will cause even more misery.
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Latest property news
Stamp Duty change whips up a storm
Designs on Property tracks and summarises the monthly property indices. Kate Faulkner says, “Even the higher taxes haven’t dampened investors’ enthusiasm.”
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Latest property news
Helping buyers save on Stamp Duty Land Tax
Cotswold agency, Butler Sherborn, says that agents can help their buyers to save higher rates of SDLT.
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Latest property news
Property sales boost was no April Fool
31st March was a busy day for My Home Move, completing a record number of property transactions. To help people complete their property transactions before the 1st April stamp duty changes came into play, My Home Move – provider of mover conveyancing services – alongside many others in the industry worked around the clock to complete a record of 1,210 property transactions on 31st March. This was a significant jump of 40% from the previous record in December last year. My Home Move completed more cases on 31st March alone than 93% of conveyancing firms completed in the whole of 2015. As a result, this marked both a record day and record month of completions for the business and is likely to have been a similar story across the industry. The record day also made it a record month, with My Home Move completing a total of 6,178 mover transactions in March, a 22% increase from its previous monthly record in October 2015 (5,060 completions). Doug Crawford (left), CEO, said, “There was a great amount of dedication last Thursday and in the preceding days and weeks to help customers purchasing an additional property and win the race to save on…
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Associations & Bodies
Straight talking
Marc Da Silva asks the Managing Director of ARLA about the new three per cent SDLT surcharge for buy-to-let and second homes and tax relief change for landlords.
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Features
Auctions under the hammer
What sort of year did the industry enjoy (or not) during 2015 and what will 2016 hold? Nigel Lewis reports.
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Latest property news
Stamp Duty: the hidden issues
The new surcharge on properties purchased as second homes or as a buy-to-let has caused disbelief and fury – but there is more to it than meets the eye. David Gibbs (left), Taxation Partner at London based Alliotts accountants has the informed view, “The consultation paper makes clear that the proposed Stamp Duty charge is an additional three per cent on the whole of the purchase price. For example under the current rules, Stamp Duty on a second property costing £200,000 is £1,500. From 1st April 2016 this will rise to £7,500 – a 500 per cent hike. The draft rules are very tightly drawn so that the additional rate applies if ‘at the end of the day of the transaction’ an individual owns more than one property. “There are exceptions. If you are replacing your main home you are exempt from the charge. So if for example, you own a second property and purchase a new ‘main home’ then the additional charge won’t apply. Buyer beware – the old home must have been sold by the end of the same day that the new home is purchased. The additional rate will apply if it is. There is a proposal…
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