LETTING & ESTATE AGENT

Following the government’s update on 13th May 2020 regarding home moving in England during the Covid-19 outbreak, we are pleased to announce our branches in England will start re-opening their doors for booked appointments over the coming weeks. Health and safety remains our main priority, and a number of strict measures will be put in place to protect our staff and customers. Our offices in Scotland and Wales will continue to support customers from home. Visit our branch page to find contact details for your local office.

Buy to let 3% extra duty: today we discover whether it applies across all UK

Buy to let 3% extra duty: today we discover whether it applies across all UK

The Scottish Government is to announce today whether it is replicating the three per cent stamp duty hike on buy to let properties and second homes.

The surcharge announced by UK Chancellor George Osborne last month is to apply from next April to England, Wales and Northern Ireland, but Scotland is today deciding whether to introduce a similar scheme north of the border.

Scotland has already scrapped stamp duty and replaced it with a Land and Buildings Transaction Tax, which is more progressive in its application; it is therefore possible that a BTL/second home surcharge could also be levied but at a different rate to that in the rest of the UK.

The Scottish Government’s Finance Minister, John Swinney, has already indicated that the Budget he is announcing this week will have tough measures because UK government cuts allegedly mean Scotland’s spending powers will be 12.5 per cent lower in real terms by 2019-20 than in 2010-11.

Swinney, who is also the deputy first minister to Nicola Sturgeon, will also today announce the new Scottish Rate of Income Tax (SRIT) - the first time the country has used powers to set its own income tax.

 


Article courtesy of Letting Agent Today | Sign up for Letting Agent Today newsletter | Get this news on YOUR site!