Updating post from Reddit.
A landlord buying a property for £240,000 would have been taxed:
🏠£7,200 Yesterday
🏠£12,000 Today
🏠£14,300 From April 1st.
no joke
Good
^^^^^^^^^^🎻
Lol, we get it. Government clearly doesn't want us to be LL, we hear you and I'm sure your wish will come true in time.
>your wish
Not Mine!
SDLT for first-time buyers is also increasing, but less impact will be felt. SDLT for home movers is also rising (here)
It's not my wish lol but highly likely consequence with all that's happening to rental market being proposed.
Hear*
Thank you, my phone is a nightmare for wrongly autocorrecting stuff I type, my fault for not proof reading though lol.
Yeah I have the same issue tbf
How very tragic
Ownership bad. Me labour. Crush rich. Pay union.
When ownership is distorting the market so wage to value is heading into double figures, yes, bad.
So pretty much everybody buying a house in the UK is paying Stamp Duty.
How dare people want to buy a bigger home to, you know, perhaps start a family.
This doesn't apply to a bigger home.
Something had to be done though
What for ? What do you think this pointless tax raid is doing ?
Paying for the NHS to be fixed
So far, Labour is chucking £22bn at the NHS. That's not fixing the NHS. That's throwing money down a black hole.
The NHS is heading towards peak PFI repayments in 2031/32. It's not a lot out of the whole NHS budget, £2.76bn a year. But for an individual hospital, it may be a respectable amount. Some hospitals are paying twice as much in PFI repayments that they spend on drugs.
Far too many of those hospitals are too small, badly designed, and struggling under excessive maintenance costs. One hospital had to pay £5k for a new sink.
In a sense, we should be happy that the previous governments were too distracted by events to order too many new hospitals on PFI contracts.
Paying for children to go to school in buildings that aren't crumbling. Although, I guess if you're a landlord you can afford to send your kid somewhere structurally sound so who gives a fuck?
If you really think the government will manage to spend any money successfully on what needs doing, I have a bridge in London to sell you
Okay let's defund the government and privatise everything because what we need is more sewage in our water. Maybe if enough brain-eating amoebas get into our drinking water everyone will finally agree with landlords.
Yeah but the lower value houses are typically first time buyers and they'll still be exempt. Going up the ladder will now cost you more.
In how many parts of the UK can you buy a 2 bedroom house for a young couple planning on starting a family for under £125k ?
None. But plenty under £250k which is where the new exemption for FTB begins.
Just dropping in to mention it was 1% in 1997…
Has anyone noticed that the war between the UK and France has ended? Therefore Stamp duty should have ended. This is robbery at its finest
Thats a point, pros and cons of moving to france?
who came in to power back then again?
The Whigs?
Can't help thinking this will actually end up raising less money, not more.
It will just create a new landlord sector with the remaining landlords being large corps that the gov can then bail out when things get bad using tax payers money. They will probably be exempt from min epc rating and get special treatment over the remaining private landlords. So yes the potential to cost the gov a lot more in the end.
Great news for public services and manufacturers of tiny violins. Thanks landlords (Y)
The increase today is far heavier than the one in April. Insane.
Rents going up for the working people...awesome job you clowns.
The temporary £2.5k tax cut is expiring as planned.
Thanks for creating. This table you created needs improvement.
Add yesterday's rate for home movers
Use dates instead of Today Yesterday
I cut it down for landlords. The full version is [here](https://cyborg.finance/news/stamp-duty-increase-2024-10).
However, I chose not to add "yesterday's rate for home movers" as it's the same as today's rate. It looked like unnecessary noise.
The problem is people buying 10 houses. Unfortunately we don't have enough being built that aren't just rat runs dressed up to look pretty.
How many people do you think that applies to? Enough to move the dial? I doubt it.
Quite a few lol, in addition to companies buying up a lot of property
If your a first time buyer are you still except???
Up to 425k until april then it drops to 300k if i remember correctly
Ah thanks, currently in the process of buying my first home só hope it's completed by then
Above £300k it's 5%, then above £500k you lose FTB discounts.
They are raising tax on FTB but at those price brackets it won't effect most FTBs.
One cut, ninety nine thousand left. Don’t worry parasites, we will purge you.
This is a community for Landlords. You can be anti-landlord in other places like /r/HousingUK/
My son asked me earlier “But these people have intelligent people around them to help them understand the impact of their policies, right?”
You cannot rationalise political dogma.