Taxed Enough Already

Punishingly high rates of tax mean that getting your dream home might be far from becoming a reality.

The Telegraph reported that expensive homes are only exacerbated by Britain's high tax levels.

There are two ways to look at home owning...

On one hand the Government is trying to make it easier for first time buyers with the second stage of Help to Buy. On the other hand, it is suggested that the expense of home ownership is exacerbated by Britain's tax levels.

More people are now paying stamp duty as the failure to link this to house price inflation meant more home buyers were required to pay the levy.

Even though in 2007 there was 1.6 million household transactions and in 2013 there were only a million, the Government's income is still predicted to be the same as it was in 2007. ie. £6.7 billion.

Additionally one in three councils have reported a tax increase is on the horizon for the New Year. And a mansion tax on the most valuable homes might come into effect soon, too, if Nick Clegg can push through his ideas.

Please call our Manchester residential conveyancers now on 01625 522429 or email info@richardsonlaw.org.uk if you would like to buy, sell or remortgage a property.

Richardson Law

Property and Conveyancing Solicitors

Wilmslow, Manchester

Tel: 01625 522429