Is this country mad or is it just me?
Why does a house purchased at £251,000 cost the buyer £7,040 more than a house with a purchase price of £249,000? I really don't get this stamp duty lark.
I always assumed it would be 1% of £250k plus 3% of anything over, up to £500k.
My budget is now £249,995. First time buyer trying to make the plunge into an over inflated market and the governement want me to drop my pants and bend over. I can't understand why any houses would sell between £250k and £265k, such is the difference between a £249k property.
2007-11-05 05:03:38 · 3 answers · asked by daniel s 2 in Business & Finance ➔ Personal Finance
All Tax is simply legalised extortion ..
Don't look for either 'common sense' or 'natural justice', you will be wasting your time .. just accept it as a cost of living in UK (same as any all the other other 'protection racket' Taxes such as Council Tax, TV License etc ..)....
... it's much the same everywhere in EU, so there's no escape ..
2007-11-05 05:16:19 · answer #1 · answered by Steve B 7 · 0⤊ 0⤋
properties under £one hundred twenty five,000 do no longer entice Stamp accountability besides so the form of deals which will income from this crap furnish is even below human beings think of! the only distinction would be to the properties valued between £125k and £175k
2016-12-15 17:23:12 · answer #2 · answered by russ 4 · 0⤊ 0⤋
Not sure where you are getting you info from, and also not quite sure if it's right - I think your understanding is correct. Please have a look at:
http://www.direct.gov.uk/en/MoneyTaxAndBenefits/Taxes/BeginnersGuideToTax/DG_10010529?cids=Google_PPC&cre=Money
2007-11-05 05:35:28 · answer #3 · answered by ! 7 · 0⤊ 0⤋