Friday, August 23, 2013
40% will have to pay at least £7,500
Four out of five homes will have to pay stamp duty by 2018
It has emerged that 80 per cent of homes in England and Wales will have to pay stamp duty tax if they plan to buy after 2018, due to rising property prices, according to latest research by the TaxPayer's Alliance.
Posted by ben @ 11:57 AM (2513 views)
4 thoughts on “40% will have to pay at least £7,500”
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dill says:
Yawn.
khards says:
They should double Stamp Duty then renting and houses will be cheaper 🙂
vinrouge says:
A house price crash could help people avoid this tax.
mark wadsworth says:
Shock horror – 100% of first time buyers have to pay about £20,000 a year in income tax, NIC, VAT and so on, in the year they buy the house and in each subsequent year that they go out and earn enough to pay off the huge mortgage.
So by the time they have paid off the house, they will have paid half a million quid in tax, and two hundred thousand in privately collected tax (the cost of the land and the interest on the cost of the land).
Oh yes, and then there’s the crippling £7,500 on top of that.