Ooooh! SNP Raise Stamp Duty!!
Discussion
Easty-5 said:
Graham, I was hoping this was the case but I don't think it is. I have been reading up more on it and from 1st April 2015 Scotland's own rates come into play wchic is 0% up to £125,000, 2% for £125,000-£250,000 & 10% for £250,000 - £324,000. So going by my maths we will be paying £7495. Still a saving over almost £9k but not as much as a saving as it could be.
Sorry didn't see the date, that's right but surely if its going to save you £2500 they can bring forward the moving date by 3 days on paper? Edited by Hollowpockets on Thursday 4th December 11:39
New rates are out
0% on first £145,000
2% on portion £145,001 - £250,000
5% on portion £250,001 - £325,000
10% on portion £325,001 - £750,000
12% on portion £750,001+
By my calculations, that means that £333,000 is the purchase price where you'd pay the same under the current UK system and the new Scottish system. Anything above and you start to pay more.
I'm sure when they first announced the new Scottish system, the cut over was £325,000, and when the UK system was changed it went down to £286,000.
0% on first £145,000
2% on portion £145,001 - £250,000
5% on portion £250,001 - £325,000
10% on portion £325,001 - £750,000
12% on portion £750,001+
By my calculations, that means that £333,000 is the purchase price where you'd pay the same under the current UK system and the new Scottish system. Anything above and you start to pay more.
I'm sure when they first announced the new Scottish system, the cut over was £325,000, and when the UK system was changed it went down to £286,000.
Scotland
Up to £145,000: 0%
£145,000 - £250,000: 2%
£250,000.01 - £325,000: 5%
£325,000.01 - £750,000: 10%
£750,000.01: 12%
Rest of the UK
Up to £125,000: 0%
£125,000.01 - £250,000: 2%
£250,000.01 - £925,000: 5%
£925,000.01 - £1,500,000: 10%
£1,500,000.01: 12%
So buying a £500k house in UK is
0% on first 125k
2% on next 125k = 2500
5% on next 250k = 12500
Total = £15,000
So buying a £500k house in Scotland is
0% on first 145k
2% on next 105k = 2100
5% on next 100k = 5000
10% on next 175k = 17500
Total = £24,600
Holy crap... They really don't like people who have done well for themselves.
Up to £145,000: 0%
£145,000 - £250,000: 2%
£250,000.01 - £325,000: 5%
£325,000.01 - £750,000: 10%
£750,000.01: 12%
Rest of the UK
Up to £125,000: 0%
£125,000.01 - £250,000: 2%
£250,000.01 - £925,000: 5%
£925,000.01 - £1,500,000: 10%
£1,500,000.01: 12%
So buying a £500k house in UK is
0% on first 125k
2% on next 125k = 2500
5% on next 250k = 12500
Total = £15,000
So buying a £500k house in Scotland is
0% on first 145k
2% on next 105k = 2100
5% on next 100k = 5000
10% on next 175k = 17500
Total = £24,600
Holy crap... They really don't like people who have done well for themselves.
Tinohead said:
New rates are out
0% on first £145,000
2% on portion £145,001 - £250,000
5% on portion £250,001 - £325,000
10% on portion £325,001 - £750,000
12% on portion £750,001+
By my calculations, that means that £333,000 is the purchase price where you'd pay the same under the current UK system and the new Scottish system. Anything above and you start to pay more.
I'm sure when they first announced the new Scottish system, the cut over was £325,000, and when the UK system was changed it went down to £286,000.
So if I was to sell my fairly normal 4 bedroom house in the west of Aberdeen, someone would be looking at paying £60,000 instead of the previous £30,000 in land tax or I'd have to reduce the price to get it sold, It's disgusting really for families and people looking to get into Aberdeen for work or needing a bigger family home as its as much a bullet for middle class as it is for the extremely wealthy. There will be countless other examples for other areas of the country which will inevitably bring the housing market to a standstill for quite some time. Especially in Aberdeen while there are so many cuts at the moment.0% on first £145,000
2% on portion £145,001 - £250,000
5% on portion £250,001 - £325,000
10% on portion £325,001 - £750,000
12% on portion £750,001+
By my calculations, that means that £333,000 is the purchase price where you'd pay the same under the current UK system and the new Scottish system. Anything above and you start to pay more.
I'm sure when they first announced the new Scottish system, the cut over was £325,000, and when the UK system was changed it went down to £286,000.
fking moronic government
McWigglebum4th said:
ViperPict said:
Seems fair enough to me for the majority of people living in Scotland.
But completely fks those who have worked hard No doubt they will fk off down south
But that is the intention
There are folk who work extremely hard and cannot afford to buy a house >£325k. There are also those who do not work hard and can. And all other combinations.
And are you sure Cameron's speech writer has not got a copyright on 'hardworking people' and combinations thereof?
ViperPict said:
McWigglebum4th said:
Still the intention to get us no voting tory scum to ps off out of the country
Were you not already chastised for your conspiracy theory views regarding the 'SNP are out to get me'? People like yourself the hardcore face painted tts are vindictive s who will stop at nothing to get FFREEEeeeeeeeeddddoooommmmmmmm!!!
Lets be honest you did say you would be spitting in my face once you had won your independence
McWigglebum4th said:
ViperPict said:
McWigglebum4th said:
Still the intention to get us no voting tory scum to ps off out of the country
Were you not already chastised for your conspiracy theory views regarding the 'SNP are out to get me'? People like yourself the hardcore face painted tts are vindictive s who will stop at nothing to get FFREEEeeeeeeeeddddoooommmmmmmm!!!
Lets be honest you did say you would be spitting in my face once you had won your independence
Easty-5 said:
Hopefully they will drop the 10% rate back in line with the rest of the UK's 5%. I can't see it happening though.
Well. I. Never! As I said on Monday, I didn't see that coming. It's great news for me. Under the previous (new) scheme that was coming in to play I would have paid about £7500 in tax. With the newest figures I will only be paying just over £4500.Gassing Station | Scotland | Top of Page | What's New | My Stuff