Stamp duty and the son of mansion tax [electronic resource]
Stamp duty and the son of mansion tax [electronic resource]
- London 2012 Knight Frank
- Knight Frank Residential Market Update April 2012 .
UK house prices fell by 1% in March 2012 and are 0.9% down year on year. Prime central London prices rose by 1.1%. Following Budget 2012 announcement, stamp duty on properties worth £2 million or more has been lifted higher, to 7%. The stamp duty payable on purchases of residences in this price bracket by non-natural persons which include many of those buying a property through a company structure has tripled to 15%.
KNIGHT FRANK RESIDENTIAL MARKET UPDATE
UNITED KINGDOM
UK house prices fell by 1% in March 2012 and are 0.9% down year on year. Prime central London prices rose by 1.1%. Following Budget 2012 announcement, stamp duty on properties worth £2 million or more has been lifted higher, to 7%. The stamp duty payable on purchases of residences in this price bracket by non-natural persons which include many of those buying a property through a company structure has tripled to 15%.
KNIGHT FRANK RESIDENTIAL MARKET UPDATE
UNITED KINGDOM