When taxes are reduced, and wins the state and the citizens

The national Association of Builders of great Britain conducted a study on the subject, what is the effect on the property market in the UK will make a change to the scale of Stamp duty, which took place in December 2014.

According to the data provided by the Association, more than two thirds – 69 % of buyers of residential property throughout the UK will benefit from changes in Stamp Duty, about 29% of buyers generally do not feel the change, and only 2 of the richest of the citizens , buying the most expensive houses will pay more.

The Association was the initiator and an active agitator for change to the scale of Stamp duty.

Based on the data submitted to Land registry, Tax Office Her Majesty and the Council of mortgage Lenders the UK was able to calculate that on each of the 647 of purchases on average would be saved £1580 pounds. In total this will save people with a modest budget of £1 billion . According to government estimates, released funds will be taken back to industry as payment on debts . It is expected that the mortgage debt in England will fall by £912 million in Wales – for £24 million in Scotland, £82 million and Northern Ireland £6 million.

In Scotland a new system of Stamp duty introduced on April 1, 2015, and the scale is a bit different. The Scots , buying up more expensive than £330000 pounds will pay a little more British, but much less than before the introduction of a new order of taxation.

It should be noted that in Wales and Northern Ireland because of the low cost of housing, no one will pay more. Will not notice any changes in all regions those buyers who buy properties cheaper than £125,000 pounds. This is the threshold below which buying property in the UK are not subject to Stamp duty.

In Northern Ireland, 61% of buyers will never notice changes in Wales – 47% , well in England and Scotland, respectively, 27% and 38 % of buyers will not benefit from the introduction of a new order of Stamp duty, because before that fell below the bar of taxation.

The highest level of the tax burden from the introduction of new rules will fall on the rich Scots, where about 5% of customers will fall under more stringent tax regime Stamp duty.

® Maxim Savitsky. 28. 03.2015 G.

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