Agents urge tapered end to stamp duty holiday

Estate Agents, Investment Sales, Market Report, Property sales, Sales, Tax

Estate agents have kept up the pressure on the Westminster government to consider some kind of tapered ending to the stamp duty holiday. Earlier this week a virtual debate amongst MPs showed a substantial number from both main parties advocating some sort of phased extension, purely for those buyers already part way through transactions. Now estate agents have voiced their …

Stamp Duty changes and Furlough Bonus scheme announced by Sunak

Buy to Let, Investment Sales, Market Report, Property, Property sales, Sales, Tax

Chancellor of the Exchequer Rishi Sunak has announced that there will be no stamp duty on homes selling for £500,000 or less; this temporary holiday will last until the end of March 2021. The threshold for ‘no stamp duty’ therefore rises with immediate effect from £125,000 to £500,000. The Chancellor claims that this means nine out of 10 main homes …

Labour’s shock £100,000 fines for substandard rental properties

Housing Law, Letting Law, Rent Control, S.21, Tax

Labour has given shocking new details of its proposals for the private rental sector including £100.000 fines if properties are deemed substandard. The party says it will introduce a national ‘property MOT’.  This would introduce a legal requirement for landlords to complete an independent annual inspection to ensure homes are up to scratch, with fines up to £100,000 and forced …

Tory leader front runner Boris to consider switching Stamp Duty from buyer to seller

Investment Sales, Property, Sales, Tax

Conservative Party leadership contender Boris Johnson has confirmed his interest in switching Stamp Duty liability from the house buyer to the seller. The switch has been proposed over the years by a number of critics of the existing system, including the Association of Accounting Technicians. Johnson has now met with the AAT and agreed to examine their Stamp Duty recommendation …