Introduction
Personal Income Tax
Tax Credits
National Insurance Contributions
Employees
Savings
Capital Gains Tax
Inheritance Tax
Stamp Duty Land Tax
Corporation Tax
Business Tax
Value Added Tax
Other Measures
Tax Tables
National Insurance
| First time buyers and expensive properties From midnight on Budget Day, relief from Stamp Duty Land Tax will be available for first-time buyers buying a property for up to £250,000. To qualify, the purchaser must intend to occupy the property as their only or main home, so it will not benefit buy-to-let investors. On other transactions the whole consideration paid on properties purchased for between £125,000 and £250,000 is charged to SDLT at 1%, so this relief is worth up to £2,500. To pay for this, the rate of SDLT on properties sold for more than £1m will rise from 4% to 5% for transfers on or after 6 April 2011. On a property just over the £1m limit, this will increase the tax by £10,000. SDLT is paid by the purchaser of a property, but it is likely to depress the price that a seller can charge.
| ||||
© Bayar Hughes & Co., 2010.