Real Estate: the property climate and what's driving tax changes
In this episode Chris Springett from S&W speaks with Will Tremlett from Sotheby’s International Reality on the property climate and what is going on in the market at the moment that is driven by the tax changes we’ve seen.
The property market has seen great changes over the past three years due to the taxes. On stamp duties changes that have been rising extraordinary over the past years, the buy-to-let taxes; if this will make individuals less attractive, foreign buyers.
Key topics covered:
- Property climate what is going on in the market driven by tax changes; introduction of ATED (annual tax on envelope dwellings)
- The way people are focusing on acquisitions
- Extension of tax base for non-residents/international buyers
- Stamp duty changes and the impacts it has had: SDLT surcharges,
- Changes and impact in the buy-to-let market – restriction on mortgage relief for landlords
- What might be coming in the future; capital gains tax and when individuals will need to prepare and make a payment , changes on private residence relief
- On the horizon, PM Boris Johnson lifting the SDLT (stamp duty land tax) thresh hold to £500k before paying SDLT and cutting top rate to 7%
- Phasing out of SDLT for owner occupied homes
Consultation into main residence relief
Surcharge for foreign buyers
Labour property report
Boris Johnson on SDLT
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This episode was recorded on 18/07/2019
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The Pulse from Smith & Williamson
Real estate: What buyers ask us and what sellers need to get advice on
Broadcast on Smith & Williamson at 09:00, 18th of JULY 2019
Available online from 10:00 on the same day .