Chancellor of the Exchequer Rishi Sunak has this afternoon announced temporary reduced rates of Stamp Duty Land Tax. The reduced rates of Stamp Duty Land Tax (SDLT) will apply for residential properties purchased from 8 July 2020 until 31 March 2021 inclusive. These rates apply whether you are buying your first home or have owned […]
News: Chancellor Rishi Sunak Announces Reduced Rates of Stamp Duty Read More »
The number of new property sellers in Westminster increased by 70.3% last month, with a 45% rise in new sellers in London as a whole. Though property supply fell in the previous months of July and August, September has been altogether more positive, with every London borough seeing a rise in the number of new property sellers during
70.3% rise in new property sellers in Westminster in September Read More »
In the Budget 2018, Chancellor Phillip Hammond announced that first-time buyers in shared ownership homes will pay no Stamp Duty on the first £300,000 of any property costing up to £500,000. The was made in retrospect back to the previous Budget in November 2017. Before the announcement, first-time buyers were required to pay Stamp Duty
Stamp Duty for first-time buyers in 2019 Read More »
A leading professional body is calling for property tax in the UK to be overhauled with an aim to encourage activity in the market. The Royal Institution of Chartered Surveyors (RICS) recently revealed its latest RICS Residential Market Survey. In the survey, nearly 50% of members advocate incentivising people to downsize by making changes to
RICS calls for property tax overhaul Read More »
The Tenant Fees Bill has been pushed through to the Committee stage following unanimous agreement from MPs that the ban should go ahead at the bill’s second reading in the House of Commons. The bill will now come before a Public Bill Committee in June, and the Committee will be accepting submissions from interested parties.
Tenant Fees Bill pushed through to Committee stage as MPs agree the ban is necessary Read More »
The reduction in mortgage interest tax relief for buy-to-let properties has sparked renewed interest among landlords in the benefits of owning their properties through a limited company. On paper, it appears to be a more tax-efficient option – the corporation tax paid by companies is set at a lower rate than the income tax paid
The low-down: tax on limited company property transfers Read More »
As a residential landlord, it can be hard to keep up with the ever-changing tax laws, so we’ve put together a handy guide to the different taxes landlords may have to pay. Stamp duty (SDLT) On buying a second (or subsequent) property costing more than £40,000, landlords must now pay an additional 3% stamp duty
Tax Update for Buy-to-Let landlords Read More »
Housing values in the SW1 area, which takes in Pimlico, Westminster and Belgravia, are the most valuable in the capital, new research reveals. This research from Zoopla looks at the total value of housing in each of the UK’s ten largest cities and the most valuable area for housing within those cities. According to the
Housing values in SW1 area are most valuable in UK Read More »
HMO properties produced the highest average rental yields last year, surpassing all other types of buy-to-let property. According to data from Mortgages for Business, the average yields for landlords with HMOs was 8.9%. The Mortgages for Business Sales Director, Jeni Browne, said: “Savvy landlords like to have a good mix of properties…They like the consistency
Strongest yields generated by HMOs last year Read More »
From 1st April 2018, landlords of domestic and non-domestic private rented properties cannot offer a property to a new or existing tenant if it has an Energy Performance Certificate (EPC) rating below ‘E’. These new Minimum Energy Efficiency Standards (MEES) will apply to all tenancies by 2020. There are, however some exemptions and exclusions to
MEES – what are the exemptions & exclusions? Read More »
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