02 February 2012

Purchase a New Property before Stamp Duty Change in March

Everybody pays taxes and they are very important because they ensure that public services run as expected. Without taxes, the government would not be able to provide the country with free services and assistance. For this reason, most people do not complain on the taxes they have to pay regularly.

Fortunately, the government provides some leeway for individuals and families looking for opportunities to save on taxes. The perfect example for families to save on taxes is the stamp duty holiday which is set to expire on the 24th of March this year. This offer is a stamp duty exemption for individuals and families purchasing properties for the first time. The stamp duty holiday is only valid for properties valued less than £250,000. This is a very rare opportunity for first time buyers because they get to enjoy a well-priced property without paying thousands more on stamp duty.
Aside from the stamp duty holiday, homebuilders are also providing additional perks for first time home buyers. There are companies that offer some type of return if part of the payment came from families and friends. More often than not, first time homebuyers also enjoy lower mortgage rate.
The perks and benefits coming from the government and private real estate companies set the perfect stage for first time homebuyers. With the savings they could enjoy through stamp duty holiday and the lower mortgage rate, owning property has never been more attractive.

2 comments:

  1. However many homebuyers are avoiding to pay the stamp duty especially in UK. Most of them got tax avoidance tips from websites. Those websites are charging a fee of around half of the tax amount.
    It is very common individuals to buy a property through a company in order to avoid stam duty land tax.

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  2. how to improve business to invest money in property. I like the blog thanks!
    NRAS

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