Forecasts by estate agent Hamptons have found that house prices are set to continue rising by 3.5% a year in Great Britain between 2022 and 2024. What is causing house prices to increase? Predictions have found that more homes will be sold in 2021 than any...
After a promising few months of record-breaking growth in the construction sector, the IHS market index has registered as 58.7 in July. It is important to note that this means there is still growth in the industry as any score above 50 demonstrates growth. However,...
What changes have been made? With effect from 1st July the Stamp Duty Land Tax (SDLT) for residential property changed to the following rates: £0 – £250,000 = 0% £250,001 – £925,000 = 5% £925,001 – £1,500,000 = 10% £1,500,000 + = 12% Please note that...
The Office of Tax Simplification (OTS) has recommended that the government double the Capital Gains Tax (CGT) reporting and payment deadline for disposals of UK residential property to 60 days. Rules introduced in April 2020 mean that a UK resident disposing of UK...
New tax obligations from April 2023 From 6 April 2023, significant changes will be made to the Self-Assessment reporting system for landlords with gross rental income above £10,000 per tax year. Bringing landlords within the scope of MTD is part of HMRC’s plan to...
In the recent Budget, it was announced that the Stamp Duty Land Tax (SDLT) holiday for residential property will come to an end on 30th September 2021. However, the Government will start to taper the rates from the end of June 2021. The current temporary nil rate band...
