Category: Property taxes

Property tax is any tax on real estate or certain other forms of property.

Capital Gain Taxes on Residential Property

Posted by on 02/05/2017 in Property taxes

Capital Gain is the amount of money a seller gets while selling the property. It is the difference between the buy price and sells price for any property. However, as per the rule, the capital gain is considered as profit and income and is taxable. In 2017, a basic taxpayer has to pay 18% of […]

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Reducing tax through stamp duty mitigation

The term stamp duty mitigation is a tax avoidance scheme that occurs during a property transaction. Buyers are usually expected to pay a tax after they fully purchase a house. This fee is paid for the benefit that the buyer gains upon buying a property. Taxes are payable for property values exceeding a given amount. […]

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Decisive things to consider when buying a house

People consider buying a home as one of the most important investments of their life. Most people will have a very detailed view of their new home. However, buying a house needs substantial investment and detailed analysis of the house and the buying process. An average person does not buy many houses in their lifetime. […]

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Examples of hidden cost of buying a house

Buying a house can be very expensive. The most obvious cost of buying a house is the actual price of the property. Most buyers get into conveyance with only this cost in mind. They fail to realize that there is one or more other hidden cost of buying a house. The result is that the […]

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Tax for landlords made easy

Posted by on 17/02/2017 in Buy to let, Property taxes

Taxes are always a headache. They are difficult to understand and pay. Unfortunately, they have to be endured by anyone who earns an income. The tax for landlords are those taxes that are levied on every income that a landlord makes. Rental properties are viewed as a source of revenue just like any other jobs. […]

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What you need to know about home renovation insurance

Home renovation insurance protects homeowners from the risks that are associated with improving a home. Home improvement is a duty that every owner must undertake from time to time. This responsibility is felt more by freeholders. Freeholders are expected by law to perform major home repairs such as the construction of roofs, strengthening of pillars […]

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How the council tax band works

Posted by on 06/02/2017 in Property taxes

Tax bands are groupings in which properties are assigned for taxing purposes. Each tax band is a range of values that represent house prices as they were in the open market on 1st April 1991. All these houses must be domestic houses and not business premises. The grouping of houses is done by the Valuation […]

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Calculating capital gains tax on rental property

Rental properties are subjected to tax like any other commercial enterprises. If you had a rental house and moved out of it, you may choose to rent it out or to sell it. The law is very considerate for homeowners. Owners of flats are assumed to be of moderate financial incomes and are therefore not […]

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How would you abstain from neglecting to settle Stamp Obligation and Area tax ?

There are various duties and tolls acquired when you buy a home, paying little respect to whether this is your first home, another home or a venture property. These are: Stamp Duty and Area Tax The meaning of Stamp Duty The biggest state tariff obligation when buying a house is stamp obligation, which is brought […]

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The reasons behind the negligence of the solicitors to pay the SDLT (stamp duty land tax)

What is Stamp Obligation Area Charge Instalment ? Stamp Obligation Area Assessment is charged on property exchanges. This is charged on all buys of houses, flats. In case you’re purchasing a home that expenses over a certain price in UK, you’ll need to pay Stamp Obligation Area Charge on your buy. You need to discover […]

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