equality-albama-logoequality-albama-logoequality-albama-logoequality-albama-logo
  • Home
  • About
  • Blog
  • Contact
  • Write for us
The sun’s rays can affect you
September 25, 2022
The changing face of how we do banking
September 30, 2022

What is stamp duty land tax?

Published by JEFFREY Dawson on September 28, 2022
Categories
  • Reviews
Tags

The government uses many schemes to generate income. Taxation remains the most popular and it comes in both direct and indirect forms. One of this most overtly direct is the Stamp duty land tax. Its history stems from all the correspondence generated by a house move and how the many and various departments had to communicate with each other. As selling and buying houses can generate a considerable amount of income the government effectively puts a tax on buying a home. There are some expectations for this rule. If any of the party buying the home are a first time buyer then there is an exemption, up to a certain amount. This has recently been increased from £300k to £425k. The higher the property value the more that you pay in stamp duty land tax.

Image credit

It is the role of the conveyancer to ensure that the correct amount of stamp duty land tax is paid. Conveyancing Cheltenham experts like Montpelier Legal work hard so that you can relax knowing that this element of the house purchase has been completely taken care of.

Image credit

The point at which you start to pay stamp duty land tax has been recently increased. It now sits at £250k. Given that the average house price in the UK is about £250k this is almost the same as freezing the rate as very little will be paid. The hope is that as the economy improves so will the UK Housing market and the income generated will be greater later.

Share
0
JEFFREY Dawson
JEFFREY Dawson

Related posts

January 26, 2023

Four Kindle Sites You Should Know


Read more
November 25, 2022

What to consider when moving home


Read more
October 13, 2022

What is Sustainable Architecture?


Read more

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Tags

  • Reviews
  • Lifestyle
  • Well-being
  • Renovation
  • Healthy Food
  • Food and Drink
  • Fashion
  • Business
  • Travel
  • Interior Design
  • Celebrity Gossip
  • Entertainment
  • Fitness
  • Trends
  • Natural Remedies
  • Diet
  • High Tech
  • Technology
  • Pet Care
  • Vehicle

Links

  • Write for us
  • Contact
  • Privacy Policy
  • Sitemap
  • RSS

Recent Posts

  • How many amps does a washing machine use?
  • Types of beds: Discover the different types
  • Ensuring safe disposal of waste
  • How to quit sugar
© 2021 Equality Mag. All Rights Reserved.