Stamp Duty Land Tax also known as SDLT is payable by a purchaser of a property or land.
This tax is paid on the following occasions:
- buy a free hold property
- buy a leasehold property
- buy through shared ownership
The amount of tax you will need to pay depends if the property is a residential or non residential such as land, shops or offices. The value of the premiss need to be over £125,000 from where this tax is payable.
You will need to pay HMRC within 30 days of completion of the sale. This is usually processed by your chosen solicitor or agent who will arrange to pay this on your behalf. Alternatively you can arrange payment yourself and file a return to HMRC. Do be careful as failure to submit your payments promptly will incur penalty charges!
I am sure you are all aware this change will come into force from 1st April 2016 so if you are currently purchasing a property it may be wise to put some pressure on your legal team as the clock is ticking.
From 1st April the stamp duty charges will increase by a further 3% for those who are looking to buy to let or are purchasing their second home:
Band Standard Rate Buy to Let/ Second Home
Up to £125,000 0% 3%
£125,001 – £250,000 2% 5%
£250,001 – £925,000 5% 8%
£925,001 – £1.5m 10% 13%
£1.5m and over 12% 15%
SDLT can also be reduced if free standing fixtures and fittings are removed. These can be items such as carpets, fridge/ freezers, curtains, and wardrobes. Any items fitted to the property such as plug sockets, fitted wardrobes cannot be removed from the value of the property price.
There are only 15 days to go before the 1st of April…
Spring is in the air in London and what a great time to invest in an exclusive penthouse located in the up and coming vibrant Royal Docks, London, E16 to do list app.
SKAMPI are offering this three double bedroom, eighth floor penthouse with great views and a stunning wrap around terrace.
This property is located in the sought after Tradewinds development constructed in 2002. Residents have full enjoyment of a fully equipped gym, hot sauna, and an ultra friendly and professional 24 hour concierge staff. Security in London is paramount so Tradewinds offers great secured parking for your pride and joy. The development is also fully gated with a key fob for additional security.This penthouse offers 1076sq ft and boasts two bathrooms. The interior has contemporary fixtures and fittings along with fitted wardrobes in each room.
In the Winter months the double glazing and gas central heating makes this penthouse a cosy home. During the Summer months, the water feature on the terrace can be heard and seen. The subtle sound of the trickling water allows you to fully relax on the terrace and enjoy the British Summer.
This beautiful penthouse is in close proximity of DLR stations such as Pontoon Dock and West Silvertown, the Jubilee Line (underground), City Airport and the up and coming Cross Rail. The Emirates Cable Cars, Excel Centre and O2 are all within easy commute from this popular development. If you prefer to unwind after a heavy day at work you can take a short walk down to Barrier Point Park where you will set eyes on spectacular views of the River Thames.
Prices for these penthouses are on the up and they are highly respected by tenants due to their facilities on offer.Investors should contact us to discuss further details and facilities of this penthouse in the Royal Docks E16 area.We can advise on finance, rental, interior design, maintenance and ultimately selling.
Keep an eye out on our website for further property updates.
One of the most vibrant cities in the world. London is a stunning place to invest in property at any time.
London is the leading global financial centre with overseas investment at a high. Investors find the London market as diverse and vibrant.
The confidence in London is super strong making the G7 Economy being politically and economically safe. The simplicity and efficiency of the UK legal system and market practices means Investors are able to access accurate and quick market information. The easy entry and exit to investments is ultra attractive to all investors.
Infrastructure Investment is massive with the new Crossrail (http://www.crossrail.co.uk/) and HS2 (<a title="HS2" href="https://www see this site.gov.uk/government/organisations/high-speed-two-limited” target=”_blank”>https://www.gov.uk/government/organisations/high-speed-two-limited).
Central London is continually expanding – Stratford now being a “Core” and having super fast connections to the city and West End and Canary Wharf being a massive financial district.
Certain areas like Kensington, Knightsbridge, Chelsea & Swiss Cottage are virtually recession proof and a safe bet.
The debt market in the United Kingdom has continued to improve with low interest rates resulting in borrowers being able to secure competitive financial terms on London Assets.
Overseas investors are able to get an attractive tax regime. No UK tax on capital gains for non UK residents and this applies to deals negotiated or signed in the UK.
We here at SKAMPI are able to source attractive property deals for all investors and offer a bespoke service. With 20 years of experience and low fees we are here to assist and guide all Investors through the London minefield of property.
London is comparable to the top Cities of the world – Hong Kong, Dubai, Sydney, New York etc. Currently we believe it is a great time to invest in a property in the Royal Docks area. The investment currently being poured in is huge. Where else in the world can you have an Airport, River, Cable cars,trains, sky scrapers, exhibitions centers and great architechure all in one location team task management. If you are a first time investor then its a great time to buy and let out a 1 or 2 bedroom property in the area. The rentals are up and demand is increasing.
The addition of Crossrail will be another huge benefit to the area and this will happen in 2017 (http://www.crossrail.co.uk)
SKAMPI are here to assist any serious and dynamic individuals who wish to Invest and take advantage of the area. We have lots of experiance and will guide on buying, letting and maintaining. SKAMPI are a “one stop” Shop for Investment needs. Please call our dedicated team to discuss in confidence – 020 79874646 or email firstname.lastname@example.org
MOVING WITH THE TIMES…… task manager app.. 2015
Skampi have been around since 1997 but this is the first major move towards modern times.
These days we spend most of our time online – PC, Tablets, Mobile Phones, etc. etc.
Our website has been revised and is better than ever, simpler and informative.
We will shortly be launching our online Estate & Letting agency providing everyone two very distinct options… Traditional or Modern.
Our aim would be to save our clients a small fortune by using our Modern approach but then there will be clients who prefer the traditional ways.
We have launched our Facebook page and this is attracting lots of visitors from all over the globe. Try visiting https://www.facebook.com/pages/Skampi-Sales-Management-Maintenance
2015 will also finally introduce our International offices, primarily in Sydney, Australia and Dubai. We will be aiming to provide clients residing in these countries an opportunity to use SKAMPI as their main agent for their UK based properties. Further details of this will be available in due course.
To sum up our first blog please continue to view our website for new properties loaded weekly and do contact us if you require any property advice.