Ooooh! SNP Raise Stamp Duty!!

[jshell]

What a bunch of s: http://www.bbc.co.uk/news/uk-scotland-scotland-pol... Won't be many hoses in Aberdeen or Edinburgh escape the 10%.

[Patch1875]

We are planning on moving later next year works out approx an extra 3k with my maths for us

[frank hovis]

Is this for real ?
Will do some damage to the housing market .
Guess i wont be moving house anytime after this madness

[Patch1875]

I nearly collapsed when I first read thinking we would be paying 10% but it's on the value over the 250k. We will be around the 350k, gets quite frightening further up the ladder.

[McWigglebum4th]

Worked hard

built yourself a nice career or business


the scottish government fking hate you


Get back on the dole where you belong

[Dinoboy]

So am I right in thinking the 10% only applies to the bit over £250k?
So if you sell for £275k it's 10% on £25k.

[scz4]

Jesus, could you imagine the damage they could of done if there was a yes vote and had control over everything! This is exactly why I voted no, completely incompetent....

Dinoboy said:

So am I right in thinking the 10% only applies to the bit over £250k?
So if you sell for £275k it's 10% on £25k.

As it happens, we just bid on a property today, that's now going to closing date on Tuesday.... we offered a flexible entry date as a way to entice the sellers to our bid (they don't want to move out until next summer), but we'll need to make sure we commit by 31st March! I wonder if this will impact the sale of our house though..... Even then, it will still add £5k+ on top of what we would of paid for 4% stamp duty.

Edited by scz4 on Thursday 9th October 19:37

[Patch1875]

Dinoboy said:

So am I right in thinking the 10% only applies to the bit over £250k?
So if you sell for £275k it's 10% on £25k.

I work it out you would pay £4800 on a 275k property.

[Hollowpockets]

Is this a joke?

I'd better get my finger out and buy something before March

[Dinoboy]

Patch1875 said:

I work it out you would pay £4800 on a 275k property.

Yeh, that's what I was thinking. 2% of £115k is £2300 plus 10% of £25k = £4800.

House price of £324k is the cut off point where the old system paid the same as the new one.
Any more than that and you'll be worse off.

Edited by Dinoboy on Thursday 9th October 19:17

[Patch1875]

Dinoboy said:

Yeh, that's what I was thinking. 2% of £115k is £2300 plus 10% of £25k = £4800.

House price of £324k is the cut off point where the old system paid the same as the new one.
Any more than that and you'll be worse off.

Edited by Dinoboy on Thursday 9th October 19:17

Can't see how this is going to help anyone like someone above said you can't get much for under 250k in the big 3 cities.

[stiglet]

Dinoboy said:

Yeh, that's what I was thinking. 2% of £115k is £2300 plus 10% of £25k = £4800.

House price of £324k is the cut off point where the old system paid the same as the new one.
Any more than that and you'll be worse off.

Edited by Dinoboy on Thursday 9th October 19:17

Correct

Take a deal at £500k

SDLT = £15,000

LBTT = £27,300

Ooooh indeed

[ModernAndy]

Whilst things getting more expensive is bad (rabble! rabble! etc.), is it possible the driving force behind this is to control the affordability of housing?

[scz4]

BBC - "Under the new system, 90% of taxpayers and 95% of non-residential taxpayers would be better or no worse off, Mr Swinney added."

Would love to know how they calculated this....

[Olivera]

scz4 said:

BBC - "Under the new system, 90% of taxpayers and 95% of non-residential taxpayers would be better or no worse off, Mr Swinney added."

Would love to know how they calculated this....

I'd guess that 90% of all residential property sales are under £324,300, hence they benefit from these changes.

[scz4]

Olivera said:

scz4 said:

BBC - "Under the new system, 90% of taxpayers and 95% of non-residential taxpayers would be better or no worse off, Mr Swinney added."

Would love to know how they calculated this....

I'd guess that 90% of all residential property sales are under £324,300, hence they benefit from these changes.

I'd be very surprised by this.... but perhaps I'm a little naive living in the Aberdeen area.....

[Olivera]

scz4 said:

I'd be very surprised by this.... but perhaps I'm a little naive living in the Aberdeen area.....

From earlier this year - http://www.bbc.co.uk/news/uk-scotland-scotland-bus...

Average Scottish house price - ~£160,000
Average Aberdeen house price - £211,489

[stiglet]

.......and average house price in Edinburgh is even higher.

Now who voted for what, where recently?

Clearly some sort of bizarre coincidence

[OlberJ]

It's been planned for ages and helps out 90odd percent of home buyers in Scotland. The bds, how dare they!

[Jon666]

Swinney's message is clear - "if you're well off you can fk off". Next will be higher rate of income tax. Every well off person and corporate head office will then make the obvious choice and locate in England.