Property News · November 28, 2015

Do new stamp duty taxes mean bye-bye buy to let?


Surprise autumn statement announcement is set to wipe out landlord profits, and could kill off the marketLandlords are in shock after a second huge tax assault on buy to let by the chancellor which will force investors to pay thousands more in stamp duty on new properties – on top of the loss of tax reliefs unveiled in July.A new 3% additional stamp duty rate on any property bought as a buy to let or as a second home, will see the tax on a £175,000 purchase jump sixfold from £1,000 to £6,250 (see table below). For someone buying in London, say a two-bed flat for £400,000, the stamp duty rises from £10,000 to £22,000. Continue reading…

Source : theguardian.com
Read more…Do new stamp duty taxes mean bye-bye buy to let?

You may also like...