Archive for Tag: Stamp Duty

December 2012

Storm Clouds on the Horizon? “The horizon of many people is a circle with a radius of zero. They call this their point of view.” So said Albert Einstein and so it can possibly also be said of some recent proposals from central and local government which will impact the residential property market for Mayfair. […]

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HMRC Fair Taxation Consultation

As Mayfair property Aficionados I thought visitors to Wetherell.co.uk might be interested in seeing the H M Treasury document on their proposals for a “Mansion Tax” for off shore companies owning property in excess of £2M. There are various professional bodies that are currently lobbying government on their ill thought out proposals. (To view the […]

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April 2012

BUDGET UPDATE ONE MONTH ON Mayfair Market up 15% despite 2% SDLT Hike The main property issue of the Budget on the 21st March 2012 was the effect on the market by the raising of SDLT from 5% to 7% on properties over £2M. I have kept our April report to the end of the […]

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Budget 2012 – Update

Proposals for Annual Levy for Off-Shore Companies owning Residential Property Here is the update on what the Government and HMRC intends to annually charge off-shore companies holding residential assets in UK If they now put the property in their own name they would trigger 7% SDLT charge creating a one off windfall tax which is […]

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Implications of Budget March 2012

The Mayfair Residential Property Market Contrary to Government claims that foreigners are exploiting the tax system through company purchases of property, Wetherell data research in Mayfair indicates that although 79% bought in a company name 97% paid the stamp duty.  This indicates that the proposals are more political than monetary. Analysis Criteria Wetherell have analysed […]

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