Stamp Duty | Mayo Wynne Baxter

New higher rates of Stamp Duty Land Tax (SDLT)

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Substantial changes to SDLT will be coming into effect from the beginning of April and there is already a lot of confusion over its implications. Buyers will need to pay an additional 3% on residential property, irrespective of whether they are second homes or buy-to-let properties. The changes will apply to completions that take place… Read the rest of this post (No Comments)

Buy-to-let and second homes Stamp Duty 2016

Deadbolt Lock with Keys on White 
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Changes were announced in the 2015 Autumn statement that from 1st April 2016, property buyers in England and Wales will have to pay and additional 3% on each Stamp Duty band on Buy-to-let and second home Stamp Duty tax bands Buy-to-let/second home rate (April 2016) Up to £125,000 = 3% £125 – £250,000 = 5%… Read the rest of this post (1 Comment)

Delays in Moving House

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There are always going to be criticisms of any system in place and conveyancing (the legal system in place for changing property ownership) is certainly not one which escapes such comments. Over the years conveyancing has come in for criticism some of which has been justified and some not. Some problems have been created by… Read the rest of this post (No Comments)

Missed opportunity to sort out Stamp Duty

The Council of Mortgage Lenders has yet again made sensible comments on Stamp Duty Land Tax. Indeed it is rather disconcerting that they have done so given my recent blog which referred to the problems with SDLT.   To quote the CML site: “A timely report from the Institute of Public Policy Research (IPPR), published… Read the rest of this post (No Comments)

Hello Mr Osbourne, do you read me?

When George Osbourne announced measures to help homebuyers in yesterday’s budget, I was left with the bizarre feeling Boy George has been reading my blog. For the last two year I’ve been asking the Government to open out the New Buy scheme to all properties and help those who can afford mortgages but don’t have… Read the rest of this post (No Comments)

New builds and allowances

You need to be careful if the developer offers to pay your stamp duty on a property worth £250,000 then that is a taxable benefit. So if they pay tax of £2,500 being 1% that is not correct as the taxable amount is £252,500 which is charged at 3% meaning you pay tax on a… Read the rest of this post (No Comments)

Stamp Duty Land Tax

Todays exciting blog is about Stamp Duty Land Tax (SDLT). Try and stay awake until the end as we all know tax is really interesting (well if you are an accountant). SDLT works as follows:  up to 125K you pay nothing then  up to 250K you pay 1% 250K-500K 3% and 500K – 2M 5%… Read the rest of this post (2 Comments)