Stamp Duty Exemption Set to Continue
Pressure is building on the Government to continue with the current exemption of Stamp Duty for properties under £175,000.
Stamp Duty Exemption Set to Continue
Along with Backbenchers, National Association of Estate Agents, and the Association of Residential Letting Agents are calling for the extension of the Stamp Duty exemption, for another year.
The housing market is on the road to recovery with the return of the first time buyer. If the Stamp Duty exemption is not extended at this fragile point of recovery, there is fear that months of work will instantly unravel causing a great deal of damage to the market.
Stamp Duty Just rose again!
I’m not talking about the rise to 5% on high end residential property which kicks in next year. Rather this was a hidden change which will affect commercial property purchasers from 4 January 2011.
The increase in the rate of VAT to 20% will mean a corresponding increase in stamp duty land tax on commercial property transactions where VAT is charged.
On a £1m purchase not only will there will be £25,000 more VAT but there will also be £1,000 more stamp duty to pay.
I support the continuation of this project “Stamp Duty Exemption Set to Continue” for it helps a lot of homeless