TheMaganator Posted October 9, 2014 Share Posted October 9, 2014 From the SNP Draft Budget Residential transactions Rates SOURCE: SCOTTISH BUDGET DRAFT BUDGET 2015-16 Up to ?135,000 Nil ?135,001 to ?250,000 2.0% ?250,001 to ?1,000,000 10.0% Over ?1,000,000 12.0% Edinburgh residents will be hit by this - average house prices here are ?262k. Dundee residents should be just fine though. Hmm Link to comment Share on other sites More sharing options...
Groot Posted October 9, 2014 Share Posted October 9, 2014 Don't know what you're insinuating, Fife will be fine by that too and we voted No What are the current rates? Ps based on the link below Edinburgh average is ?227k http://www.ros.gov.uk/public/news/quarterly_statistics.html Link to comment Share on other sites More sharing options...
Thunderstruck Posted October 9, 2014 Share Posted October 9, 2014 I understood it to be that the 10% was only on the portion of the "consideration" that exceeded ?250k and, like Income Tax, the value below would be taxed at 0% and 2% respectively. I hope I was correctly informed or it's on with the Che Guevara beret and t-shirt. Link to comment Share on other sites More sharing options...
Psychedelicropcircle Posted October 9, 2014 Share Posted October 9, 2014 *sighs* Link to comment Share on other sites More sharing options...
TheMaganator Posted October 9, 2014 Author Share Posted October 9, 2014 I understood it to be that the 10% was only on the portion of the "consideration" that exceeded ?250k and, like Income Tax, the value below would be taxed at 0% and 2% respectively. I hope I was correctly informed or it's on with the Che Guevara beret and t-shirt. This is correct. Link to comment Share on other sites More sharing options...
Sooperstar Posted October 9, 2014 Share Posted October 9, 2014 From the SNP Draft Budget Residential transactions Rates SOURCE: SCOTTISH BUDGET DRAFT BUDGET 2015-16 Up to ?135,000 Nil ?135,001 to ?250,000 2.0% ?250,001 to ?1,000,000 10.0% Over ?1,000,000 12.0% Edinburgh residents will be hit by this - average house prices here are ?262k. Dundee residents should be just fine though. Hmm That 2% instead of 1% is pretty brutal at that level. Link to comment Share on other sites More sharing options...
TheMaganator Posted October 9, 2014 Author Share Posted October 9, 2014 http://www.telegraph.co.uk/finance/newsbysector/constructionandproperty/11146956/Scots-middle-class-to-be-hit-hard-by-new-homeowner-tax.html Some brief analysis. Link to comment Share on other sites More sharing options...
Thunderstruck Posted October 9, 2014 Share Posted October 9, 2014 This is correct. Phew! Link to comment Share on other sites More sharing options...
DETTY29 Posted October 9, 2014 Share Posted October 9, 2014 That 2% instead of 1% is pretty brutal at that level. Don't you you save ?200 buying a house at ?250,000 in Scotland from next tax year compared to England? Link to comment Share on other sites More sharing options...
Sooperstar Posted October 9, 2014 Share Posted October 9, 2014 Don't you you save ?200 buying a house at ?250,000 in Scotland from next tax year compared to England? All I know is I'm moving house tomorrow, first time buyer, and the extra 1% would have meant I would not be able to afford it. Link to comment Share on other sites More sharing options...
flecktimus Posted October 9, 2014 Share Posted October 9, 2014 Typical of snp trying to pay back the no voters, who weren't taken in by their lies and intimidation. Only to be expected I guess. A tax policy that will have little benefit other than to pretebd that snp are all about social justice. They may as well being done and introduce a bitterness tax on no voters. It hits yes voters as well Link to comment Share on other sites More sharing options...
Carl Spackler Posted October 9, 2014 Share Posted October 9, 2014 If the purchase is less than ?325k then the Stamp Duty will be less than at present. Above and it's quite a bit more as you get nearer the Million. For houses around the average the new payment is significantly less. Link to comment Share on other sites More sharing options...
GforGallo Posted October 9, 2014 Share Posted October 9, 2014 All I know is I'm moving house tomorrow, first time buyer, and the extra 1% would have meant I would not be able to afford it. no it doesn't. If your buying a 200k house now you will be paying 2,000. (200,000 @ 1percent) If you were to buy it after this you would be paying 1,300 ((200,000-135,000)@ 2 percent) even at the full 250,000 this way is cheaper. Link to comment Share on other sites More sharing options...
GforGallo Posted October 9, 2014 Share Posted October 9, 2014 Don't you you save ?200 buying a house at ?250,000 in Scotland from next tax year compared to England? yes. I'd have saved 1,300 if these rules had been in place in February!!! Swines Link to comment Share on other sites More sharing options...
djf Posted October 9, 2014 Share Posted October 9, 2014 Loved hearing some Tory dickhead gIving it the 'won't someone think of the hard working families (who own homes at +300k in value)' line. Probably worth remembering that this isn't London. Even in Edinburgh 330k gets you plenty for your money. Link to comment Share on other sites More sharing options...
graygo Posted October 9, 2014 Share Posted October 9, 2014 How many houses in Edinburgh are actually at the "average" price? If you had 100 houses @ ?100k and 20 houses @ ?1,000,000 then the average price is ?250,000 but 80% odd are below the average price. (obviously just random figure to make my point) Link to comment Share on other sites More sharing options...
Don Draper Posted October 9, 2014 Share Posted October 9, 2014 Not an SNP apparatchik by any means, but does this not help first-time buyers while making the more fortunate pay their fair share? Sounds awful, right enough. Link to comment Share on other sites More sharing options...
AlphonseCapone Posted October 9, 2014 Share Posted October 9, 2014 Typical of snp trying to pay back the no voters, who weren't taken in by their lies and intimidation. Only to be expected I guess. A tax policy that will have little benefit other than to pretebd that snp are all about social justice. They may as well being done and introduce a bitterness tax on no voters. It will benefit a significant number of people regardless of which way the voted. If you can't see that you've either not looked at it properly or you are extremely blinkered. Link to comment Share on other sites More sharing options...
AlphonseCapone Posted October 9, 2014 Share Posted October 9, 2014 This is correct. Did you intentionally leave this part out of your OP to make it look a lot worse or did you not know at the time? Link to comment Share on other sites More sharing options...
Sarah O Posted October 9, 2014 Share Posted October 9, 2014 Not an SNP apparatchik by any means, but does this not help first-time buyers while making the more fortunate pay their fair share? Sounds awful, right enough. That's my take on it. But the seethe is most enjoyable. Haters going to hate. Link to comment Share on other sites More sharing options...
Sooperstar Posted October 9, 2014 Share Posted October 9, 2014 no it doesn't. If your buying a 200k house now you will be paying 2,000. (200,000 @ 1percent) If you were to buy it after this you would be paying 1,300 ((200,000-135,000)@ 2 percent) even at the full 250,000 this way is cheaper. Ah, I see, I hadn't realised you only paid it on the part that falls within each bracket. That's quite good then, well done SNP. Link to comment Share on other sites More sharing options...
Juan Jose Carricondo Perez Posted October 9, 2014 Share Posted October 9, 2014 Just paid to reserve a plot on a new build that won't be ready till next year. ?500 saving for me so petty happy with this. Link to comment Share on other sites More sharing options...
AlphonseCapone Posted October 9, 2014 Share Posted October 9, 2014 :-) Have I been trolled or something ha? Link to comment Share on other sites More sharing options...
Brandt Posted October 9, 2014 Share Posted October 9, 2014 I'm happy to pay the extra if it helps folk get on the ladder Getting harder and harder for folk to buy a home. Link to comment Share on other sites More sharing options...
Sooperstar Posted October 9, 2014 Share Posted October 9, 2014 I'm happy to pay the extra if it helps folk get on the ladder Getting harder and harder for folk to buy a home. Send me ?500, you'd be doing me a massive favour. Link to comment Share on other sites More sharing options...
Brandt Posted October 9, 2014 Share Posted October 9, 2014 Send me ?500, you'd be doing me a massive favour. Link to comment Share on other sites More sharing options...
IronJambo Posted October 9, 2014 Share Posted October 9, 2014 I think stamp duty has needed a shake up but I'm not sure this goes the distance. I live in London but I think I'd like to see there be no fee to pay for anything under ?250k across the board. When it first started you could get a whole lot of house for the ?125k threshold and it hasn't really moved in line with house prices. My shared ownership flats just going on the market in London and if I get an offer between x & y I'll be asking for less as the stamp duty I'll have to pay in turn will be counter productive. Link to comment Share on other sites More sharing options...
djf Posted October 9, 2014 Share Posted October 9, 2014 Why they not they not allowed to be thought about? Though I love hearing socialist dickheads chastising anyone who isn't working class or dares to aspire to separate themselves from the lowest common denominator. Most "hard working families" don't live in 300k+ homes duh. That's why it's a silly talking point. Link to comment Share on other sites More sharing options...
TheMaganator Posted October 9, 2014 Author Share Posted October 9, 2014 Did you intentionally leave this part out of your OP to make it look a lot worse or did you not know at the time? I knew it. Just posted the table pulled from the BBC. Figured most would have read about it by now anyway & know all the details Link to comment Share on other sites More sharing options...
TheMaganator Posted October 9, 2014 Author Share Posted October 9, 2014 But many do, that's the point duh. Clearly the richer you are the less you have to work?!?! People who have done well for themselves don't deserve to be treated equally? Your right no one should look after their interests. ******* parasites these hard working people who dare own a home over 300k. People only get wealthy by not working hard, LBJ. That's why it's imperative we try and tax as much as we can that they haven't worked hard for. It's only fair. Link to comment Share on other sites More sharing options...
djf Posted October 9, 2014 Share Posted October 9, 2014 But many do, that's the point duh. Clearly the richer you are the less you have to work?!?! People who have done well for themselves don't deserve to be treated equally? Your right no one should look after their interests. ******* parasites these hard working people who dare own a home over 300k. I tried twice to respond to this but i'm not sure what exactly has prompted your little hissy fit. If he motions that "hard working families" will be punished despite most "hard working families" actually benefiting this is at best clever politics and at worst out-right dishonesty. I can only apologise if this sentence causes you torment. No, of course we shouldn't treat everyone equally. Thankfully we don't. Link to comment Share on other sites More sharing options...
The Old Tolbooth Posted October 9, 2014 Share Posted October 9, 2014 Personally I think it should be abolished, it's money for old rope and legalised robbery, although at least the SNP are making it better for the ordinary working man now, it's a start. Sent from my iPhone using Tapatalk Link to comment Share on other sites More sharing options...
djf Posted October 9, 2014 Share Posted October 9, 2014 People only get wealthy by not working hard, LBJ. That's why it's imperative we try and tax as much as we can that they haven't worked hard for. It's only fair. If only those n'er do wells would just work HARDER. Keep fighting the good fight bro. Link to comment Share on other sites More sharing options...
TheMaganator Posted October 9, 2014 Author Share Posted October 9, 2014 If only those n'er do wells would just work HARDER. Keep fighting the good fight bro. Is that a typo? What's a n'er do well? Hard working families will be affected by this. Link to comment Share on other sites More sharing options...
TheMaganator Posted October 9, 2014 Author Share Posted October 9, 2014 I agree with this it should be abolished its an out of date tax. Which is right up there with window tax! & the death tax Link to comment Share on other sites More sharing options...
Don Draper Posted October 9, 2014 Share Posted October 9, 2014 Is that a typo? What's a n'er do well? Hard working families will be affected by this. http://www.merriam-webster.com/dictionary/ne%27er-do-well Im having no hissy fit. Just a different opinion from you. Haha I like that you think you could cause me torment though. Do you take a message board that seriously. So hard working families won't be punished by this? Interesting point of view but one which is completely wrong, Ahh so equality not for you fair enough. Strange perspective though, maybe we should remove vote from rich. That democracy as might give you what you want. That's how democracy works right lol. Anyway fight the power comrade :-) Has someone hacked your account? Your posts on this thread are a bit...out of character. Link to comment Share on other sites More sharing options...
Rand Paul's Ray Bans Posted October 9, 2014 Share Posted October 9, 2014 Taxes = slavery. Link to comment Share on other sites More sharing options...
Cade Posted October 9, 2014 Share Posted October 9, 2014 Tax breaks for cheap houses, tax hikes for mansions. Bring on the seethe. Link to comment Share on other sites More sharing options...
TheMaganator Posted October 9, 2014 Author Share Posted October 9, 2014 It's an attack on the middle classes of Edinburgh. I expect riots. Link to comment Share on other sites More sharing options...
djf Posted October 9, 2014 Share Posted October 9, 2014 In all seriousness though, whilst it might help first time buyers get on the ladder, it is just short-termism that isn't going to do anything to sort out the state of the Scottish housing market. Something major is going to give in our live times. Will be interesting to see what. Link to comment Share on other sites More sharing options...
TheMaganator Posted October 9, 2014 Author Share Posted October 9, 2014 In all seriousness though, whilst it might help first time buyers get on the ladder, it is just short-termism that isn't going to do anything to sort out the state of the Scottish housing market. Something major is going to give in our live times. Will be interesting to see what. Prices in London & Aberdeen slowing down in the past few months, I'm told. Could just be the referendum hangover though. We need more housing up here. That much is clear. Certainly need a better solution than help-to-buy! Link to comment Share on other sites More sharing options...
Rand Paul's Ray Bans Posted October 9, 2014 Share Posted October 9, 2014 Prices in London & Aberdeen slowing down in the past few months, I'm told. Could just be the referendum hangover though. We need more housing up here. That much is clear. Certainly need a better solution than help-to-buy! Agreed - more housing is needed in many parts of the UK. The solution is pretty simple, I think: relax planning laws (including allowing building on green belt land), and allow councils to borrow to increase their housing stock. Link to comment Share on other sites More sharing options...
IronJambo Posted October 9, 2014 Share Posted October 9, 2014 Prices in London & Aberdeen slowing down in the past few months, I'm told. Could just be the referendum hangover though. We need more housing up here. That much is clear. Certainly need a better solution than help-to-buy! Not correct for London. My place has gained at least 20% in the last 6 months. Link to comment Share on other sites More sharing options...
Pans Jambo Posted October 9, 2014 Share Posted October 9, 2014 This thread reeks of petty points scoring between yes & no supporters. If you already own a house over ?325k then you wont be paying anything towards the new stamp duty BECAUSE YOU ALREADY OWN IT! If you are fortunate to be able to afford to be buying a home over ?325k AFTER April next year then you will pay more on the new tax versus the current stamp duty rates. Below ?325k and you pay less. Simples. As for the dumb comments about it only affecting the Folks that voted no, do the people who voted yes not buy houses? Are there no yes supporters who are wealthy? Just serfs that votes yes? Jeez! Link to comment Share on other sites More sharing options...
TheMaganator Posted October 9, 2014 Author Share Posted October 9, 2014 Not correct for London. My place has gained at least 20% in the last 6 months. I don't doubt it. Just the residential trend in general - I was told this morning by one of the property partners at my firm. Link to comment Share on other sites More sharing options...
AlphonseCapone Posted October 9, 2014 Share Posted October 9, 2014 I expect riots. Settle. Link to comment Share on other sites More sharing options...
IronJambo Posted October 9, 2014 Share Posted October 9, 2014 I don't doubt it. Just the residential trend in general - I was told this morning by one of the property partners at my firm. It's quite ridiculous actually. You can pick up the metro and read about falling or stagnating house prices and then pick up the evening standard later in the same day and read about rising prices. London's very subjective though as some areas are slowing down and others have ground to a halt. It just so happens I'm in the east where prices are accelerating right now at a rate higher than west ever has. It's not a good thing. Edit: or at least until recently, prices in the east were accelerating at high rates. Link to comment Share on other sites More sharing options...
TheMaganator Posted October 9, 2014 Author Share Posted October 9, 2014 Settle. I wasn't being serious. Link to comment Share on other sites More sharing options...
Psychedelicropcircle Posted October 9, 2014 Share Posted October 9, 2014 In all seriousness though, whilst it might help first time buyers get on the ladder, it is just short-termism that isn't going to do anything to sort out the state of the Scottish housing market. Something major is going to give in our live times. Will be interesting to see what. Bankrupt Britian....front row seats booked Link to comment Share on other sites More sharing options...
Thunderstruck Posted October 9, 2014 Share Posted October 9, 2014 Your post make me laugh. What you mean you don't pay stamp duty on a house you already own. Better call the accountant and tell him to stop the adding on to my tax bill. I might be misreading your post but it sounds to me like you think you pay this annually or on an ongoing basis. It is The Land and Buildings Transaction Tax payable on conclusion of (certain) transactions. The only regular property tax we have (for homeowners is Council Rax and Water Charges). Link to comment Share on other sites More sharing options...
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