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. …
Category Archives: Property Tax
Capital Gains Tax Cut Could Affect Rural Housing Costs
The pressure is on for The Chancellor Alistair Darling to act upon preventing significant cuts in CGT (Capital Gains Tax) as it could trigger a second-home boom. The Government’s Rural Advocate, Stuart Burgess appealed to abandon the plans for the reduction in CGT on second homes from 40 per cent to 18 percent. Active campaigners …
Cheaper Eco-Friendly Homes: Dream or Reality?
The president of the National Association of Estate Agents (NAEA) called for action in making homes greener. Stewart Lilly is keen to see more work done regarding existing homes suggesting that devices which make homes more energy efficiency should be VAT-free. He added: [VAT rebates] can only encourage people to introduce more energy efficiency into …
Capital Gains Tax Changes in the Next Budget
Some investors will benefit from one change to the capital gains tax (CGT) which has already been confirmed for the next budget. This measure concerns the link between time to the level of tax paid by an investor when he sells on a property, which will not start at 40 percent for the first three …
Buy-to-Let and Stamp Duty Proposals for the Next Government Budget
Stamp duty is one of the biggest nightmares for any property developer. The National Association of Estate Agents (NAEA) set out some proposals to deal with stamp duty issues. The NAEA proposals include increasing the one per cent threshold to £200,000 and £300,000 for the two percent threshold, for £2 million-plus properties they’ve proposed a …