The importance of Stamp duty land tax.
There has been much talk of stamp duty land tax in the news recently. During the current pandemic, this tax was frozen as a way for the government to stabilise and stimulate the housing market in the UK. Its non-payment or relief of payment has also been in the news, with noticeable dignitaries not having to pay it. It does represent a significant amount of income to the country as a source of taxation and it is unlikely that it will be lowered or frozen again in the near future. At least if you are a first-time buyer you will not have to be concerned with its payment.
It is an ancient tax that has been modified and continued down through the centuries. Simply put if you purchase land or property or receive it through a gift or make a financial contribution to gaining property, or land, you will be liable to pay it.
It should go without saying that the more expensive the property, or land value, the greater level of tax you will pay. There is, however, a lower rate of £125,000, but it is virtually impossible to find a property that you can buy for that amount of money nowadays. To see if you can get some Stamp Duty Refund. It is certainly worth going on to the following website www.sentientsdlt.co.uk to see if this particular brand of experts can help you find a way forward.