Mar
17
U.K. Apartment-Building Buyers to Pay Higher Stamp-Duty Tax
By-
Charge to increase for most expensive commercial properties
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Government to pass laws to stop tax avoidance by developers
Insurers and pension funds, which have been buying homes in the U.K. as they seek to boost returns amid low interest rates, will have to pay a higher rate of stamp-duty sales tax.
A three-percentage-point levy on landlords and second-home owners will also apply to corporate investors, Chancellor of the Exchequer George Osborne said on Wednesday. A cut in capital-gains tax to 20 percent from 28 percent won’t apply to profits made by people who own residential property, Osborne said in his budget speech…
U.K. Apartment-Building Buyers to Pay Higher Stamp-Duty Tax
