Autumn Statement 2014

Whilst the stamp duty change is welcome, the actual saving in London is minimal. It saves you about 1k on a £499,999 property.

So roughly a 6% saving on stamp duty
 
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Osborne really needs to back up his statement about deficit funding to get proper credibility. No point just saying "you're wrong", George.
 
scorza said:
5% on anything up to £950k as well I think.

So stamp duty a £350k house is: (£125k*0)+(£125k*0.02)+(£100k*0.05)=£7.5k as opposed to £10.5k at the moment.

Edit: added first £125k for clarification.
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Ah OK so on a 300K house that's £4000 saving, ok that's 4 months earlier. Still amazing
 
McGray said:
When are the changes in stamp duty effective from?
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The property tax known as stamp duty will be completely reformed says the chancellor. And from midnight tonight. Each tax rate (and there are new ones) will apply only to the particular slice of the selling price to which they apply, not the whole value of the property (as at the moment).
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Seems like a typical pre-election/tax giveaway budget. However I've learnt from previous budgets and Autumn statements from this chancellor that the devil really is in the detail, so I'll wait until tomorrow's papers before passing judgement.
 
Stamp duty changes definitely welcome, should help houses sell in the 250-270k range, perhaps it will push prices up that were previously 240.

Bad news for the in-laws though, they just completed on a place at £267k, these new rules would have saved them nearly £5k in stamp duty.
 
Having had a look at the table Ed Balls was joy gleefully referring to I can understand how Labour managed to screw the budget so badly! Forecast changes from the March Budget to now equal £13.2bn in total up to 2018/19, not £290bn or whatever ludicrous figure it was he said. He's a complete moron!
 
Rotty said:
we are all screwed if Labour get back in
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Don't worry UKIP will stop them :D

"Migrants to lose unemployment benefits if they have "no prospect" of work after six weeks"

Well that's a start, carry on and I may vote for them. But highly unlikely
 
WillyNelson said:
Halifax says Q3 2014 average price for a flat/maisonette of £339,324. So say that's £350k - SD was £10.5k under the old scheme and £7.5k from tomorrow.
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Correct. I probably should have mentioned I was referring to Central London (zones 1, 2).

I think the rebanding will force prices up. Everyone will want a cut of the saving.
 
scorza said:
The 'Google tax' is the only thing I've seen so far, don't know the details of it though.
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I doubt if there are any details to be known. I doubt if it's more than a vote-buying facade to pretend to address something that's been in the news.
 
LordSplodge said:
How about they focus on economic policy and less acting like children in the school playground?
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ElliorR said:
This is so embarrassing, this isn't tradition this is ******** and they need to stop acting like kids.
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Exactly, we teach our children to behave better in discussion than that. How could you show that to children as an example of how our leaders run our country. They should just be booted straight out.

Sold my house recently STC and tbh the stamp duty has been putting a lot of people off selling. Even myself when totalling up the cost to move being 20k you can see why the market is slow and the prices on those houses on the market and inflated.
 
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