Property Tax Specialist London, Property Specialist Tax Accountant
Property Tax Specialist London, Property Specialist Tax Accountant
Are you looking for a property tax specialist in London to get your taxes paid without any hassle?
Have a quick look on some brief points provided by B&S Associates, accountants specializing in property taxes in London.
According to property tax specialist, a property tax is known as stamp duty land tax or SDLT. This is required to be paid by a natural or Artificial person who either performs any of these actions:-
- Buy a freehold property; freehold property has two basic possibilities
- It shall be a land or arising from a land or part of a land
- Its ownership shall not be fixed for a time.
- Buy a property through a shared ownership scheme; Shared ownership schemed are approved by government associations which provide benefits to the people buying properties in those schemes.
- Taking land or property in lieu of payment.
Collection of Property Tax:-
According to a property tax specialist, property tax is different for in which the property is owned
- In Scotland, it is known as land and building transaction tax.
- In Wales, it is known as a land transaction tax on transaction completed on or after 1st April 2018.
Rates of Property Tax:-
According to a property tax specialist, rates of property tax in UK or London depends on whether a natural person or Artificial person whomever it may be buying a residential property for the very first time or already have more than one property at the time of buying.
Rates of taxes comes out with a very particular point that your accountant specializing in property tax must make you aware that first time buyer always have a upper hand in tax savings then people holding property.
Especially for Artificial persons including company, there are no sliding rates, 15% rate of SDLT shall be paid by an Artificial person where the consideration for a property is more than 500000.
From 22 November 2017, relief is available for purchases by the first-time buyer, if the sole purpose is dwelling as their sole and main residence:-
Purchase Price in GBP
Upto 300000
30000 to 500000
500000 above
Property Tax Rates
Nil
5%
8%
Property Tax Specialist London, Property Specialist Tax Accountant
Property Tax Specialist London, Property Specialist Tax Accountant
Property Tax Specialist London, Property Specialist Tax Accountant