 |
REGISTER NOW ON MASONRYFIRST.COM |
 |
 |
|
 |
 |
|
|
General |
|
 |
Government to consider stamp duty reduction for bulk purchases
Landlords in the UK could be set to benefit from a government consultation on the way stamp duty land tax (SDLT) is charged on bulk property purchases.
The discussion comes as HM Treasury launched a consultation to see how the private rented sector could become more professional and help provide an increased amount of affordable housing.
According to the Treasury, the current stamp duty system has been highlighted as a "key impediment to investment" by a number of organisations from the property, banking and financial sectors.
The government is now discussing proposals to reduce stamp duty bills by charging the tax on the individual value of properties bought rather than charging for the total amount of the purchase.
"This means that the SDLT due would be the same as if each property had been purchased separately. In most cases this will result in a lower SDLT bill (it will never result in a higher bill)," said the Treasury.
Peter Cosmetatos, director for finance policy at the British Property Foundation, said: "We hope that this information collecting exercise will recognise how a targeted stamp duty relief could help the growth of private rental.
"If they are allowed to, REITs (real estate investment trusts) could also be a vehicle for large scale residential investment to take place which could also be opened up to the man on the street."
Back
|
 |
 |
|
Related
News from General |
|
|
|
|
|
|
