{"id":142748,"date":"2024-02-24T19:00:28","date_gmt":"2024-02-24T12:00:28","guid":{"rendered":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/it-makes-moving-pointless-why-stamp-duty-is-the-biggest-downside-to-downsizing\/"},"modified":"2024-02-24T19:08:30","modified_gmt":"2024-02-24T12:08:30","slug":"it-makes-moving-pointless-why-stamp-duty-is-the-biggest-downside-to-downsizing","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/it-makes-moving-pointless-why-stamp-duty-is-the-biggest-downside-to-downsizing\/","title":{"rendered":"\u2018It makes moving pointless\u2019: why stamp duty is the biggest downside to downsizing"},"content":{"rendered":"


\nMany older people in large homes would like to release them to growing families, but the financial hit can be hugeWhat\u2019s standing in the way of downsizing for Gail, 58, from Manchester \u2013 who is self-employed and lives with her partner in a five-bed house she would like to swap for a smaller home? \u201cSimply the cost of stamp duty. We live in an expensive area, so downsizing will cost us a lot in stamp duty, far more than we would save by having lower bills.\u201dIn England and Northern Ireland, stamp duty land tax is charged on properties costing more than \u00a3250,000, unless you are a first-time buyer. In Wales, its equivalent applies to homes costing more than \u00a3225,000, and in Scotland it starts at \u00a3145,000. For a property costing \u00a3450,000 in England, it means a bill of \u00a310,000 if you are not buying your first home. Continue reading…
\n
\nSource : theguardian.com
\nRead more…\u2018It makes moving pointless\u2019: why stamp duty is the biggest downside to downsizing<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Many older people in large homes would like to release them to growing families, but...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-142748","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-B8o","jetpack-related-posts":[{"id":171822,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/scrap-stamp-duty-and-council-tax-to-fix-london-housing-crisis-thinktank-says\/","url_meta":{"origin":142748,"position":0},"title":"Scrap stamp duty and council tax to fix London housing crisis, thinktank says","date":"May 20, 2026","format":false,"excerpt":"\r Centre for London report finds levy on property wealth would free up homes, fund social housing and help renters save for depositsStamp duty should be scrapped and replaced with a new property wealth tax to fix London\u2019s housing crisis, a leading thinktank has proposed.A report on the capital\u2019s property\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":29427,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/cut-stamp-duty-to-revive-housing-market-says-estate-agency\/","url_meta":{"origin":142748,"position":1},"title":"Cut stamp duty to revive housing market, says estate agency","date":"October 11, 2016","format":false,"excerpt":"\r Haart urges government to help reverse sluggish pace of activity after drop in house prices in SeptemberOne of Britain\u2019s largest estate agencies has called on the government to cut stamp duty as it revealed that a sharp decline in interest from buyers had led to a fall in house\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":72551,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/stamp-duty-so-you-think-youre-a-first-time-buyer\/","url_meta":{"origin":142748,"position":2},"title":"Stamp duty: So you think you're a first-time buyer …","date":"March 27, 2010","format":false,"excerpt":"\r The budget included an increase in the stamp duty threshold for first-time buyers \u2013 but who will be eligible, asks Rupert JonesFirst-time buyers (particularly those who don't drink cider) were among the biggest winners in the budget after Alistair Darling said they will not have to pay stamp duty\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":43843,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/foreign-billionaires-in-london-choosing-to-rent-to-avoid-stamp-duty\/","url_meta":{"origin":142748,"position":3},"title":"Foreign billionaires in London choosing to rent to avoid stamp duty","date":"February 12, 2017","format":false,"excerpt":"\r Number of lettings costing more than \u00a33,000 a week increased by 28% in the last three months of 2016, research showsForeign billionaires are renting rather than buying luxury homes following increases in tax bills on upmarket properties. Lettings that cost more than \u00a33,000 a week \u2013 \u00a3156,000 a year\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":138266,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/were-buying-a-shared-ownership-flat-how-should-we-pay-stamp-duty\/","url_meta":{"origin":142748,"position":4},"title":"We\u2019re buying a shared ownership flat \u2013 how should we pay stamp duty?","date":"July 10, 2023","format":false,"excerpt":"\r We have the choice to settle it all at once, or for just our 45% share of the propertyQ My partner and I are paying \u00a3333,000 to buy a 45% share of a flat costing \u00a3740,000 under the shared ownership scheme.Does it make sense to pay the stamp duty\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":117864,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mortgages-still-in-lockdown-despite-stamp-duty-holiday\/","url_meta":{"origin":142748,"position":5},"title":"Mortgages still in lockdown despite stamp-duty holiday","date":"July 19, 2020","format":false,"excerpt":"\r Low-deposit home loans are coming back \u2026 but choices are limited and lenders are applying new terms and conditionsThese are difficult times for anyone who wants to buy a home. Despite the government\u2019s attempt to reinvigorate the market with a temporary stamp-duty holiday on properties costing up to \u00a3500,000\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/142748"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=142748"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/142748\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=142748"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=142748"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=142748"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}