Latest News
UK Property Experts to Campaign for Stamp Duty Tax Reform
As the Stamp Duty holiday is about to expire at the end of this year, more and more UK organisations stand up to it. The latest announcement made by the Association of Residential Lettings Agents (ARLA) suggests that it teamed up with the National Landlord Association (NLA) and other organisations in order to make the British Government revise the... Read more
Stamp Duty Holiday Abolition to Affect Property Market Recovery - RICS
World’s leading body for standards in property, land, and construction – the Royal Institution of Chartered Surveyors (RICS) – recently expressed its concern over the possible consequences of stamp duty holiday abolition at the end of December 2009. In the opinion of RICS experts, the housing market in problematic areas of the United... Read more
Stamp Duty Holiday – to Be Extended or Not?
The break, known as stamp duty holiday, allowing buyers not to pay the stamp duty tax if the property they purchase costs less than £175,000, will no longer be available at the end of this year. On average, UK house buyers, who are taking out a mortgage with a 25% deposit, can expect a discount of £1,750, which, under current economic... Read more
No Tax Payment is Required
According to the data, provided by the official source, the quantity of properties that are priced high enough to qualify for the stamp duty free policy is increasing and this fact pleases Londoners for sure. The fall down on the property market resulted in the fact that thousands of properties lost their value, which came along with the increase... Read more
George Lee Calls for a Dramatic Cut in the Stamp Duty
Yesterday, on Wednesday, May 20th Fine Gael's George Lee has called upon the Government to cut the stamp duty tax by 2% as it is supposed to get the property back on track. His party is planning to officially take the stamp duty reduction plan in the coming weeks. Mr. Lee, who is a former RTE economics editor, held a town-hall meeting in the... Read more
Chancellor’s Stamp Duty Tax Paid by Public
According to recent data, Alistair Darling has changed the location of his “main home†already 4 times in 4 year, which resulted in the fact that almost £10,000 were contributed by taxpayers to the costs of the Chancellor decisions. The change of Chancellor’s main home allowed him to claim thousands of pounds towards his... Read more
The Government's 2009 Budget and the Expectations of Housing Market Players
In spite of the government intention to kick the stagnated housing market, nothing happened. The Government's 2009 Budget left the mortgage industry players disappointed. Industry figures unanimously keep insisting on further Government reforms of the tax. Specialists say that the Government should have switched from the 'slab' system to the... Read more
Nationwide Proposes ISA and Stamp Duty Reform
Nationwide, one of the largest UK building societies, has called upon Chancellor Alistair Darling to review the ISA policies and reform the stamp duty tax. The Building society is interested in encouraging the savings habit among its customers as well as in enabling people to get on the property ladder. Therefore, Nationwide hopes that Chancellor... Read more
Members of Parliament Claim Stamp Duty on Expenses
The examination of one of the most unpopular Labour’s taxes – stamp duty – revealed that members of parliament avoid the tax of up to £10,000 on their 2nd and 3rd homes by claiming it back on parliamentary expenses. Stamp duty is also being claimed in addition to furnishing and mortgage interest payments for houses... Read more
Reform of Stamp Duty Is Required
The British Property Federation believes that the residential rental property sector will become more attractive to investors if the government reforms the stamp duty. According to BPF, currently the problem is that at the moment investors are discouraged from pumping funds into the BTL sector because the duty is much higher when property is being... Read more