Stamp Duty Land Tax – it’s effect on house prices and ways to reduce it

Posted on 18th February 2022 at 17:09

Stamp Duty Land Tax (SDLT) receipts last year were extremely different in comparison to previous years. This is due to a number of factors; the SDLT tax relief for properties worth up to £500,000 ended June, 2021 and the tax relief for properties worth between £125,000 and £250,000 was also brought to an end on September 30.

These two deadlines created a huge spike people complete purchases properties under these thresholds thereby avoiding having to pay SDLT. According to Government data, transactions in October to December last year were 10% lower than the previous quarter, and 13% lower than Q4 2020.

BUDGET SUMMARY ARCHIVE

Posted on 9th February 2022 at 11:42

- TWJ essential tax tips & advice for company directors.

Click the links below to be redirected to our relevant budget document.

SPRING 2024 BUDGET (07.03.24)

Autumn 2023 budget (22.11.23)

Spring 2023 budget (15.03.23)

Autumn 2022 budget (17.11.22)

Mini budget reversal (18.10.22)

Mini budget (23.09.22) - superceded

Spring 2022 budget (24.03.22)

Autumn 2021 budget (27.10.21)

Spring 2020 budget (03.03.20)

Businesses helped by COVID-19 support could face unexpected tax charges

Posted on 31st January 2022 at 17:26

Businesses and self-assessment taxpayers that received any financial aid as part of the COVID-19 support scheme will now need to include these grants in their tax return.

Creditor action protections end in March

Posted on 31st January 2022 at 14:00

From March 31, 2022 companies with debts outside of their rental arrears face the removal of protection against creditor actions.

Tenants and Landlords now face legally binding arbitration over rent arrear disputes

Posted on 31st January 2022 at 13:51

Businesses shut during the pandemic are currently protected from eviction up until March 25. A new government bill currently brought before Parliament is expected to create binding arbitration following this date.

Tax return extension 20/21

Posted on 31st January 2022 at 13:38

Any taxpayers who are yet to submit their completed Self-Assessment tax return which is due before January 31st are being given an extension to file until February 28th.