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Stamp duty reforms from midnight tonight.
Comments
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PeacefulWaters wrote: »
I'd be slightly concerned that this might trigger excessive activity is the housing market.
What exactly is 'excessive activity', and why is it excessive?
Increased sales and purchases is how these changes are going to be paid for.
Don't be surprised if the overall SDLT tax take increases.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
As an aside, I did enjoy yesterdays Wallace jibes from George and due respect to Ed for laughing along.....
https://www.youtube.com/watch?v=Jxsb7dXc8Oo#t=29m13s
More cheese.0 -
What exactly is 'excessive activity', and why is it excessive?
Increased sales and purchases is how these changes are going to be paid for.
Don't be surprised if the overall SDLT tax take increases.
I'm sure it will. We were looking at moving and the cost of extending was much less as we'd just go over the threshold to a new rate.
Far fairer to have the bands based in the same way as income tax.Remember the saying: if it looks too good to be true it almost certainly is.0 -
Far fairer to have the bands based in the same way as income tax.
How fair is income tax Jim?
Someone paying SDLT in the 2% band is probably paying it out of 80% of gross income - this makes it a 2.5% gross rate.
Someone paying SDLT in the 10% band is probably paying it out of 60% of gross income - this makes it a 17% gross rate.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Anything that nudges yes back to a boom and bust housing market. Problem is, nobody knows where that tipping point.What exactly is 'excessive activity', and why is it excessive?
Gideon would be surprised. He's forecasting reduced revenues of £400m pay from it.Increased sales and purchases is how these changes are going to be paid for.
Don't be surprised if the overall SDLT tax take increases.0
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