Top 10 Most Expensive Areas in the UK for Council Tax
April 24, 2008
Thanks for visiting! If you're new here, you may want to subscribe to our RSS feed. .
This site posts daily property development tips and news on a wide variety of subjects ranging from DIY to mortgages, from property finance to industry news.
Go ahead, subscribe to our feed! You can also receive updates from this blog via email
Thanks for visiting!
CIPFA the Statistical Information Service has released a report listing the top 10 most expensive areas in the UK for Council Tax
Here are the results:
Sedgefield Borough Council, Labour, £1,613.10
Rutland County Council, Conservative, £1,606.38
South Bedfordshire DC, Conservative, £1,593.51
Newark & Sherwood District Council, Conservative, £1,591.81
Easington District Council, Labour, £1,586.71
Royal Borough of Kingston-upon-Thames, Liberal Democrats, £1,580.08
Weymouth & Portland Borough Council, No Overall Control, £1,567.77
Hartlepool Borough Council, Labour, £1,565.48
Mansfield District Council, Independent, £1,546.38
LB Richmond upon Thames, Liberal Democrats, £1,543.76
Popularity: 60%
HRMC Advises Investors to Seek Property Tax Help
April 9, 2008
HM Revenue & Customs (HMRC) investigators are now focusing on property investors. Several hundred property investors received letters from HMRC stating that apparently they have not included their rental income on their tax returns even though they own rental property. The HMRC offered property tax advice to the affected parties to rectify their affairs.
HMRC’s officials stated that continuing profiling activities have been identified. Whether by mistake, misunderstanding of the complex property tax issues, or misinformation there is a considerably high risk of property tax being underpaid by investors. The HRMC insists to collect the right amount of tax and strongly recommended investor to seek property tax help of a property tax consultant.
Popularity: 51%
Capital Gains Tax (CGT ) Changes Will Test Investors
April 2, 2008
The international credit ratings agency, Fitch Ratings, has advised that forthcoming changes to CGT will put the buy to let market to the test. The tax changes are thought to be implemented from April 6th.
Fitch Ratings believes that the lower rate of CGT will test investors’ ability when it comes to keeping their existing properties, enticing many to sell in order to profit from past capital appreciation.
Stuart Jennings, group credit officer at Fitch said:
With expectation of further house price decline in the coming months, the capital growth incentive for buy-to-let investment has faded.
Data on recent buy-to-let investor behaviour shows an increasing number ‘marking time’. This may change when the new tax treatment effectively makes it cheaper to sell.
Popularity: 33%
Capital Gains Tax Changes Didn’t Change Buy to Let Investors
March 19, 2008
A recent survey carried by the Young Group – property portfolio manager – has found that 84 per cent of the buy to let investors think that the proposed Capital Gains Tax changes didn’t affect their property investment plans.
The survey asked 500 active UK property investors in the buy to let market. Thirty nine percent of the respondents believe that property prices outside London are likely to remain stagnant this year and 95 per cent plan not to sell their residential property investments this year.
A staggering 50 per cent declared that are actively looking to buy London residential properties in the next 12 months, while no more than 6 per cent of those surveyed wish to acquire UK property outside London.
Eighty Six per cent of the participants think property prices in London will raise or remain the same for 12 months, in comparison to 82 per cent in the last quarter of 2007.
Lastly, 89 per cent of property investors anticipate the Base Rate to be below 5.00% in the first quarter of 2009.
The chief executive of Young Group, Neil Young, added:
As purchase transaction volumes in the residential property investment market reduce, it is increasingly evident that the London market is distinct from that of the UK as a whole. Both property and rental values in the capital are cushioned from the cooling in the housing market, buoyed as a result of the inherent disparity between supply and demand.
Popularity: 37%
Low Income Buyers Exempt of Stamp Duty
March 12, 2008
The Chancellor Alistair Darling has announced today in his first budget that low-income property buyers will not pay stamp duty, if they buy a home through a government sponsored scheme.
The Chancellor has revealed low-income home buyers would only have to pay stamp duty once they own 80 per cent or more of the property.
Mr Alistair Darling also exposed that more resources will be made available for other government schemes, to increase the supply of inexpensive housing. The shared-equity schemes will help key workers such as police and teachers, who may now get a low-cost loan if they wish to buy a property.
It was also revealed that around 95,000 households have been helped by these schemes; however there was little support for first time buyers who earn too much to be eligible for these schemes.
Popularity: 36%
Latest Property Headlines
- Present your conservatory correctly
- DIY increases during credit crunch
- Save energy when you develop a property
- The CML Proposed New Measures to Prevent Home Repossessions
- Overseas Property Investors Being Fined Under New Spanish Legislation
- Housing Associations Practicing Unfair Posseassions Says CAB
- Mortgage Advisors
- Gross Mortgage Lending Improved in April
- Bank of Scontland to Review Buy to Let and Self Cert Mortgages
- Less Buyers and Sold Properties Says National Homebuyers