Making a Strategy to Deal with Stamp Duty; Stamp Duty on Homes Worth Pounds 1 Million and above Is Due to Increase to 5 per Cent on April 6. Mark Wiggin of Strutt & Parker Considers the Implications: PROPERTY EXPERT

The Birmingham Post (England), February 24, 2011 | Go to article overview

Making a Strategy to Deal with Stamp Duty; Stamp Duty on Homes Worth Pounds 1 Million and above Is Due to Increase to 5 per Cent on April 6. Mark Wiggin of Strutt & Parker Considers the Implications: PROPERTY EXPERT


Mark Wiggin Hardly a month seems to go by without a tax hike of some kind: .rst it was VAT, then petrol duty and now stamp duty for houses over the million pound mark.

The in.uential Institute for Fiscal Studies has said that the variety of measures coming into effect in April will hit the rich most. But how much effect will the stamp duty rise really have, when it is introduced on April 6? If nothing else, it will serve to focus minds. We have certainly had both buyers and sellers asking about the change in the past few months. It remains to be seen whether it will have a signi.cant impact on pricing - creating any kind of vacuum between the pounds 1 million and pounds 1.1 million level.

There will be some small price impacts: if vendors have priced their property at just over a million, the buyer is likely to offer just that little bit more before the deadline to avoid having to pay the extra chunk when the deadline comes. But proportionately, the impact of stamp duty is far larger at the pounds 250,000 level.

We can't see the increase causing either a mad rush beforehand, or an uncomfortable hiatus and distortion of the market afterwards.

There has been some confusion and speculation about legal aspects of the change. Some people assumed that if you had already exchanged contracts, that would be enough to beat the deadline - but the Inland Revenue is clear that it applies on completion only. The only way round it is to take possession before completion, and that throws up a whole new level of complexity. …

The rest of this article is only available to active members of Questia

Sign up now for a free, 1-day trial and receive full access to:

  • Questia's entire collection
  • Automatic bibliography creation
  • More helpful research tools like notes, citations, and highlights
  • Ad-free environment

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

Making a Strategy to Deal with Stamp Duty; Stamp Duty on Homes Worth Pounds 1 Million and above Is Due to Increase to 5 per Cent on April 6. Mark Wiggin of Strutt & Parker Considers the Implications: PROPERTY EXPERT
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Full screen

matching results for page

Cited passage

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited passage

Welcome to the new Questia Reader

The Questia Reader has been updated to provide you with an even better online reading experience.  It is now 100% Responsive, which means you can read our books and articles on any sized device you wish.  All of your favorite tools like notes, highlights, and citations are still here, but the way you select text has been updated to be easier to use, especially on touchscreen devices.  Here's how:

1. Click or tap the first word you want to select.
2. Click or tap the last word you want to select.

OK, got it!

Thanks for trying Questia!

Please continue trying out our research tools, but please note, full functionality is available only to our active members.

Your work will be lost once you leave this Web page.

For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

Already a member? Log in now.