Pro-Taxman

Stamp Duty

Exploiting the staycation trend – Buying a holiday let

Those looking to buy an investment property may wish to consider a holiday let. Not only do the second and subsequent homes benefit from SDLT savings as a result of the temporary increase in the SDLT threshold, they can also benefit from the favourable tax regime for furnished holiday lettings. Tax advantages There are special …

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Residential Stamp Duty Land Tax

The government have cut stamp duty until 31 March 20201, is now a good time to buy a house?

Temporary cut in SDLT – Who benefits? To boost confidence in the property market and to maintain the momentum that has been gained since the easing of lockdown, the Government has announced a temporary increase in the residential stamp duty land tax (SDLT) threshold. From 8 July 2020 until 31 March 2021, residential SDLT threshold …

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Stamp Duty

Tax tip! When you buy shares over £1000 you have to pay stamp duty of 0.5% on the transaction. Read more…

Stamp duty on share transactions Stamp duty is the oldest of our surviving taxes – dating as far back as 1694 – although the scope of the tax has considerably reduced over time and is now entirely limited to paper transactions in shares. Stamp Duty is generally payable on non-electronic share deals on transactions valued …

Tax tip! When you buy shares over £1000 you have to pay stamp duty of 0.5% on the transaction. Read more… Read More »

HMRC have given new guidance on how stamp duty is applied to residential property which has land. Take a look at our short blog if you’re thinking of purchasing a property that has features such as farmland, stables or orchards.

Grounds and gardens for SDLT Stamp duty land tax (SDLT) on residential property also applies to land that form the garden or grounds of the property. To ensure that the right rate of SDLT is applied, it is therefore important to ascertain whether any land purchased with a property constitutes its garden or grounds. The …

HMRC have given new guidance on how stamp duty is applied to residential property which has land. Take a look at our short blog if you’re thinking of purchasing a property that has features such as farmland, stables or orchards. Read More »

Make sure you take into account stamp duty if you’re looking to buy a commercial property.

Stamp duty land tax on non-residential properties Stamp duty land tax (SDLT) is payable in England and Northern Ireland on the purchase of property over a certain price. It applies equally to residential and non-residential properties, although the rates are different. Stamp duty land tax is devolved with land and buildings transaction tax (LBTT) applying …

Make sure you take into account stamp duty if you’re looking to buy a commercial property. Read More »

SDLT and first-time buyers

Stamp duty land tax (SDLT) is payable where you buy a property in England or Northern Ireland and the amount paid is more than a certain amount. SDLT does not apply in Scotland, where Land and Buildings Transaction Tax (LBTT) applies instead, nor in Wales, where Land Transaction Tax (LTT) is payable. As far as …

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Putting property in joint name – beware a potential SDLT charge

There are a number of scenarios in which a couple may decide to put a property which was previously in sole name into joint names. This may happen when the couple start to live together, get married or enter a civil partnership. Alternatively, it may occur if the couple take advantage of the capital gains …

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