- Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
- Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!
Scots Property Tax: 10% above £250k
Collapse
X
-
-
Feck me. 12% on that one Scooter was waving about at the weekend . Or £132k
I imagine the asking price will be dropping shortly
Edit: here it isLast edited by barrydidit; 10 October 2014, 07:11. -
Do read the article you numpty. You'll always spend less tax buying a home in Scotland now.
First £135k = no tax
£135k - £250k = 2%
£250k+ 10%
A property bought at £300,000 in 2015 would mean a £7,300 charge [0% of £135,000; 2% of £115,000 and 10% of £50,000]. With stamp duty for a house at this price currently at 3%, the stamp duty payment would be £9,000."Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark TwainComment
-
Originally posted by scooterscot View PostYou'll always spend less tax buying a home in Scotland now.
It's a better way of doing it, certainly. Stamp duty bands as they stand are a right old pain in the arse, but 10% on anything from £250 to a million seems a bit steep.Comment
-
Once you go past 325,000 you start to lose out and we would have had to pay quite a bit more.
More populist bulltulip.Comment
-
Is this the same as the English system where it's on the whole value, or is it 10% on everything above £250k?Originally posted by MaryPoppinsI'd still not breastfeed a naziOriginally posted by vetranUrine is quite nourishingComment
-
Originally posted by d000hg View PostIs this the same as the English system where it's on the whole value, or is it 10% on everything above £250k?
people are better of if the house is less than £325,000merely at clientco for the entertainmentComment
-
-
Originally posted by eek View PostNope its tiered rates. its 10% on everything above £250k...
people are better of if the house is less than £325,000Originally posted by MaryPoppinsI'd still not breastfeed a naziOriginally posted by vetranUrine is quite nourishingComment
-
Originally posted by d000hg View PostI hate that the English system isn't like that. Even if the bands were shifted so it didn't affect what my house cost at all, it just seems inherently broken to have such a step-change. In communities where the prices are generally not above £250k they all hit that ceiling and stop, while other communities above the ceiling carry on increasing in value.merely at clientco for the entertainmentComment
- Home
- News & Features
- First Timers
- IR35 / S660 / BN66
- Employee Benefit Trusts
- Agency Workers Regulations
- MSC Legislation
- Limited Companies
- Dividends
- Umbrella Company
- VAT / Flat Rate VAT
- Job News & Guides
- Money News & Guides
- Guide to Contracts
- Successful Contracting
- Contracting Overseas
- Contractor Calculators
- MVL
- Contractor Expenses
Advertisers
Contractor Services
CUK News
- Streamline Your Retirement with iSIPP: A Solution for Contractor Pensions Sep 1 09:13
- Making the most of pension lump sums: overview for contractors Sep 1 08:36
- Umbrella company tribunal cases are opening up; are your wages subject to unlawful deductions, too? Aug 31 08:38
- Contractors, relabelling 'labour' as 'services' to appear 'fully contracted out' won't dupe IR35 inspectors Aug 31 08:30
- How often does HMRC check tax returns? Aug 30 08:27
- Work-life balance as an IT contractor: 5 top tips from a tech recruiter Aug 30 08:20
- Autumn Statement 2023 tipped to prioritise mental health, in a boost for UK workplaces Aug 29 08:33
- Final reminder for contractors to respond to the umbrella consultation (closing today) Aug 29 08:09
- Top 5 most in demand cyber security contract roles Aug 25 08:38
- Changes to the right to request flexible working are incoming, but how will contractors be affected? Aug 24 08:25
Comment