Stamp Duty Land Tax – A Short History Since 1959

Stamp Duty Land Tax (SDLT) replaced Stamp Duty as the Duty Tax paid on property transactions in December 2003, when residential and non-residential properties where also separated. In the forty years preceding Gordon Brown’s elevation to Chancellor of the Exchequer, the top rate had never ranged outside 1.0%-2.0%. Within just over 3 years of his appointment, the […]

Prime Sales Volume Halves Post Brexit

Data taken from the Land Registry, and analysed by Khalil & Kane, shows that Prime London sales volumes fell to their lowest levels since Q2-2013 in the most recent quarter, following the result of the United Kingdom’s referendum on membership of the European Union. This put sales of properties worth over £1m down 50% (from 3,481 […]

Stamp Duty Cut Is Useless

The recent stamp duty break introduced by the government was supposed to get more budding first-time buyers into the market, but not everyone believes it is actually working. It fundamentally comes down to finance and not Stamp Duty.  According to Andrew Teacher of the British Property Federation, “if you can’t get hold of a mortgage, […]

Stamp Duty To Be Blamed For Falling Residential Yields

The combination of rising house prices and falling rents caused the residential yields to fall to their lowest level for 18 months in January. Residential yields fell to 4.75% last month which marked the lowest level since August 2008, according to the latest Buy-to-Let Index from LSL Property Services. Yields had peaked at 5.1% in […]

Plan to suspend stamp duty for all home buyers in the UK

According to the Times, Gordon Brown is considering suspending stamp duty in an emergency measure to kickstart the housing market, it was claimed last night. The idea, being worked on by the Treasury, is part of a package of help for hard-pressed families. Stamp duty is paid by property buyers, and is levied at 1 […]