The new property tax in Scotland will be revised in the direction of easing

The new order of taxation of real estate, which will be introduced in Scotland in April 2015, instead of Stamp duty,(What “Stamp duty”) caused concerns that families buying property in Edinburgh and other expensive cities, lie is too big financial burden.

For this reason the consultation will take place, which will be attended by members of the Scottish Parliament and representatives of the Cabinet of Ministers of the United Kingdom.

The new system was announced at the end of last year and according to her, tax-generally exempt properties valued up to £135000. But for properties from £250,000 to £1 million pound increase in load can be up to 10%.

Meanwhile, almost simultaneously with the announcement of new tax systems, throughout the UK, except Scotland, in December 2014 introduced a new scale of Stamp duty, which aimed to significantly reduce the tax burden on property buyers cheaper £935000 pounds.

Thus, the new scale of Stamp duty will have less impact on customers than a system of taxation introduced in Scotland.

The conservative party of Scotland made a proposal to amend has not yet entered into force a law according to which the threshold of non-taxable amounts should be increased to £140,000£, and the rates for properties from £250,000 to £500,000 pounds to reduce by half.

The speaker of the Conservative party of Scotland financier Gavin brown believes that too high taxes for properties from £250,000 to £500,000 pounds can severely hurt the real estate market in Scotland.

In fact, any family property in Edinburgh, Aberdeen or Glasgow is worth more than £250,000 pounds. Three of these cities cover approximately three-quarters of the transactions in Scotland. This means that the new tax rates will severely hit primarily by families who are working in these major industrial cities of Scotland. Most of the distortion in the existing scheme is felt between the two ranges: range in price from £135000 to £250,000 pounds, the tax rate is 2% and in the range of £250,000 to £1 million. – 10%. It would be reasonable to smooth this jump, setting a gradual increase in rate for property in the range up to £1 million

® Maxim Savitsky. 21. 01.2014 city

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