IronJambo Posted December 3, 2014 Share Posted December 3, 2014 So George is reforming this in England and Wales from midnight. He's followed the same format that fat Alex used in Scotland but has made it 5% on properties from ?250k instead of 10%. Meaning that anyone spending less than ?900k on a house is going to be better off. Makes the fat mans stamp duty reform look really shite. I saved a fortune today, it's like a few grand fell out the sky. Link to comment Share on other sites More sharing options...
Dean Winchester Posted December 3, 2014 Share Posted December 3, 2014 Means that the delay on my house I was due to move into last week has effectively saved me ?700. Link to comment Share on other sites More sharing options...
IronJambo Posted December 3, 2014 Author Share Posted December 3, 2014 Means that the delay on my house I was due to move into last week has effectively saved me ?700. Sweet! I've got to buy the rest of my shared ownership flat when my sale completes in January, thus I have to pay the 65% of the stamp duty I never bought 7 years ago. Saving almost ?3k. It's very pleasing. Link to comment Share on other sites More sharing options...
TheMaganator Posted December 3, 2014 Share Posted December 3, 2014 The Nats will be seething. Well done to Ossy-b. The Tories take a lot of stick on here but I think deep down most folk know they're the party of sensible governance. It's a farce of a tax anyway. Link to comment Share on other sites More sharing options...
IronJambo Posted December 3, 2014 Author Share Posted December 3, 2014 The Nats will be seething. Well done to Ossy-b. The Tories take a lot of stick on here but I think deep down most folk know they're the party of sensible governance. It's a farce of a tax anyway. Yes, the tax is a joke. You took the rest of it too far though. Link to comment Share on other sites More sharing options...
IMac Posted December 4, 2014 Share Posted December 4, 2014 Lib dem policy but it is easier to ignor that. Link to comment Share on other sites More sharing options...
Bigsmak Posted December 4, 2014 Share Posted December 4, 2014 Shows what would have happened had there been a yes vote. All the tax in Scotland would be double what you pay in England and Wales. Link to comment Share on other sites More sharing options...
Norm Posted December 4, 2014 Share Posted December 4, 2014 They kind of had to make it less. There's probably more houses over 250k in London than there are actual houses in Scotland. Okay, that's a bit far but you get my drift. Link to comment Share on other sites More sharing options...
deesidejambo Posted December 4, 2014 Share Posted December 4, 2014 Yes voters will of course ignore this. Also the ?70 a barrel oil price blows their "economic argument" to bits. Nice one Eck. Link to comment Share on other sites More sharing options...
TheMaganator Posted December 4, 2014 Share Posted December 4, 2014 They kind of had to make it less. There's probably more houses over 250k in London than there are actual houses in Scotland. Okay, that's a bit far but you get my drift. Its not just less, it is pretty much half for the houses that the majority of people will be buying. The only price range where it will be cheaper up here is the ?115-?135k band. It is a master stroke from London - puts the Nats in a really awkward position. They'll find a way to blame westminster though...they're nothing if not predictable. Link to comment Share on other sites More sharing options...
Ragnar Posted December 4, 2014 Share Posted December 4, 2014 I like the Conservatives. Always knew they'd be the ones to lead this country forward. Link to comment Share on other sites More sharing options...
IronJambo Posted December 4, 2014 Author Share Posted December 4, 2014 They kind of had to make it less. There's probably more houses over 250k in London than there are actual houses in Scotland. Okay, that's a bit far but you get my drift. They didn't HAVE to do anything. 5% to ?500k and 10% from ?500k would've satisfied the people in London that needed the change. Link to comment Share on other sites More sharing options...
TheMaganator Posted December 4, 2014 Share Posted December 4, 2014 I think you need a new calculator mate. A property of ?250,000 pays ?200 less under the new system when it comes into play in Scotland. I'll try & post the document I got from Retties Link to comment Share on other sites More sharing options...
djf Posted December 4, 2014 Share Posted December 4, 2014 Loving the proverbial having cake and eating it going on in this thread. It's a good move by the Tories but on UK terms more than anything else. PS. Why can't No voters just move on? Link to comment Share on other sites More sharing options...
TheMaganator Posted December 4, 2014 Share Posted December 4, 2014 Loving the proverbial having cake and eating it going on in this thread. It's a good move by the Tories but on UK terms more than anything else. PS. Why can't No voters just move on? I am allowed to engage in Nat-bashing - that's got nothing to do with the referendum (assuming this was aimed at me) Link to comment Share on other sites More sharing options...
djf Posted December 4, 2014 Share Posted December 4, 2014 Just tickles that all we heard on here was that Yes voters wouldnt man up and accept the result when it seems it's the reverse that is true and its vocal No voters who now want to drag every political discussion into the independence more. Link to comment Share on other sites More sharing options...
kingantti1874 Posted December 4, 2014 Share Posted December 4, 2014 Was meant to move into a new house on 28/11... It fell through and now move Into a new house 19/12... This will save me ?3800 to George Link to comment Share on other sites More sharing options...
djf Posted December 4, 2014 Share Posted December 4, 2014 Why are you so weird Lord BJ? My post was some light hearted joshing of Mag as he was more interested in Nat bashing than condemning a policy he's presumably ideologically against. Please just relax. PS. The referendum wasn't decided by one vote so thankfully no need to regret my vote, hth. Link to comment Share on other sites More sharing options...
RealMaroonCF Posted December 5, 2014 Share Posted December 5, 2014 Shock horror. London in zero originality headline. The scottish government make an educated policy. London copy it. Any idiot claiming 'see, we'd have been saying more tax if a yes vote happened'should go back to school....nursery school! The current scottish bands can be moved. Also, the bands mean that we are targetting the people who can afford to pay more. 400-50k+ houses are ten a penny in London, a city 25 times the population of edinburgh. Those houses are not man in the street stuff up here. If you are in that bracket, you can AFFORD to be paying more tax. Osbourne has undercut our rate for a few homes in the 250-300 odd price range. Woopy doo and rather convenient to save all those Londoners a few pennies in the run up to an election! Another back handed attempt to blind voters of the utter shambles that is the westMinster government Link to comment Share on other sites More sharing options...
TheMaganator Posted December 5, 2014 Share Posted December 5, 2014 Shock horror. London in zero originality headline. The scottish government make an educated policy. London copy it. Any idiot claiming 'see, we'd have been saying more tax if a yes vote happened'should go back to school....nursery school! The current scottish bands can be moved. Also, the bands mean that we are targetting the people who can afford to pay more. 400-50k+ houses are ten a penny in London, a city 25 times the population of edinburgh. Those houses are not man in the street stuff up here. If you are in that bracket, you can AFFORD to be paying more tax. Osbourne has undercut our rate for a few homes in the 250-300 odd price range. Woopy doo and rather convenient to save all those Londoners a few pennies in the run up to an election! Another back handed attempt to blind voters of the utter shambles that is the westMinster government There are loads of homes in Edinburgh in the 250-300 bracket. There are also loads in the 400-500 bracket. These guys will be paying pretty much double in tax that they do down south. The Nats are getting found out. That's why they're seething. Link to comment Share on other sites More sharing options...
IronJambo Posted December 5, 2014 Author Share Posted December 5, 2014 Shock horror. London in zero originality headline. The scottish government make an educated policy. London copy it. Any idiot claiming 'see, we'd have been saying more tax if a yes vote happened'should go back to school....nursery school! The current scottish bands can be moved. Also, the bands mean that we are targetting the people who can afford to pay more. 400-50k+ houses are ten a penny in London, a city 25 times the population of edinburgh. Those houses are not man in the street stuff up here. If you are in that bracket, you can AFFORD to be paying more tax. Osbourne has undercut our rate for a few homes in the 250-300 odd price range. Woopy doo and rather convenient to save all those Londoners a few pennies in the run up to an election! Another back handed attempt to blind voters of the utter shambles that is the westMinster government What a mental rant. The Scottish bands can be moved? Of course they can. Wouldn't it be hilarious if they did move them and change the percentages on a tax that hasn't even come into effect yet. All because someone else came up with something better and didn't dick around for the best part of a year before implementing it. That wouldn't be embarrassing for the Scottish government at all would it. Link to comment Share on other sites More sharing options...
IronJambo Posted December 5, 2014 Author Share Posted December 5, 2014 Have you still not updated that calculator of yours yet? I'm interested to know what the % of transactions in Scotland will now be more expensive, we were told under the old brackets it would be 10%, so what is it going to be now? All of these will cost more in April http://www.espc.com/properties.aspx?minprice=325000&sortby=pricedesc&area=edinburgh_south%2cedinburgh_east%2cedinburgh_north%2cedinburgh_west%2cedinburgh_south_west%2cedinburgh_city_centre%2cedinburgh_north_west Link to comment Share on other sites More sharing options...
IronJambo Posted December 5, 2014 Author Share Posted December 5, 2014 That's nice, doesn't answer my question and I pointed out above that with the new rates it will be properties at ?253,000 and above that will be taxed more - property prices will be what they are it is the tax that is going up or down.I think you're confused. In Scotland come April the stamp duty will be less on ?253k than it is now. For homes costing ?324k+ the stamp duty will be more than it currently is. In England, the new rates that came into effect yesterday has made the stamp duty on property less than ?937k cost less than it used to. Why you keep quoting ?253k I really don't know. If you want to know what percentage of properties it will effect in either direction why don't you count the properties on the market above and below ?324k and do the maths. Edit: I linked you to properties costing ?325k+, the relevant bracket. Link to comment Share on other sites More sharing options...
IronJambo Posted December 5, 2014 Author Share Posted December 5, 2014 I didn't realise that this came into play in Scotland also. Is this where ?253k comes into it? I'm not being funny, but the Scottish government are just going to look really really stupid if they do ahead with their changes in April now. Link to comment Share on other sites More sharing options...
IronJambo Posted December 5, 2014 Author Share Posted December 5, 2014 The new Stamp Duty Rates announced this week came into force this week in the whole of the UK, from April onwards it becomes a devolved issue and it is replaced by LLBT. Under the new (current) Stamp Duty rates this means that all properties over ?253,000 in Scotland will pay more when it switches to LLBT, this would have been ?325,000 under the old Stamp duty rates. This doesn't mean we look stupid by having a different set of banding rates, it may be that ours suits the Scottish market better, which was the whole idea of devolving them. When LLBT was announced it was stated that 90% of transactions would pay less tax, I would like to know what that % is now that the stamp duty has been altered. I have to disagree. They reformed stamp duty to make it better and if they go ahead with it now they're going to make it worse. It can surely only swing it to make a large percentage of housing cost more and any that do cost less can only be very marginally less. It's complete lunacy if the SNP go ahead with this in April. I'm not a Tory, but the big boys in Westminster have outdone the SNP and fitted them up good and proper. They can only follow suit or become the bad guys. Link to comment Share on other sites More sharing options...
Masonic Posted December 5, 2014 Share Posted December 5, 2014 they are just rewarding people for buying houses at the wrong prices by giving a tiny bit back. Link to comment Share on other sites More sharing options...
IronJambo Posted December 5, 2014 Author Share Posted December 5, 2014 Better/Worse doesn't necessarily relate to More/Less Expensive.It's a bullshit tax. It's just been made a bit less expensive for people. SNP are going to make it worse in Scotland. That's worse. No matter who you are. Link to comment Share on other sites More sharing options...
TheMaganator Posted December 5, 2014 Share Posted December 5, 2014 In England Wales & NI for properties valued between ?250k & ?900k you will pay 5% For properties of the same value in Scotchland you will pay 10% That is outrageous. Link to comment Share on other sites More sharing options...
kingantti1874 Posted December 5, 2014 Share Posted December 5, 2014 only on that portion of the sale, not the whole amount. Its only on a portion of the sale in England as well ... My stamp duty is ?3800 less than it was last week and ?4k cheaper than it will be in scotland come April... Pretty shocking Link to comment Share on other sites More sharing options...
Shrekeo Posted December 6, 2014 Share Posted December 6, 2014 Circa ?27,000 on a ?500k home in Scotland versus ?15,000 down south. Seems fair..... Link to comment Share on other sites More sharing options...
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