Buy to Let: How much more Stamp Duty will you have to pay?

George Osborne sprang a surprise on property investors last week, when he announced in the Autumn Statement, that he will increase the Stamp Duty payable on the purchase of Buy to Let property and second homes. From 6th April 2016, anyone purchasing a property to let, or as a second home, will see a surcharge of 3% added to each band of Stamp Duty payable. The table below shows the rates of Stamp Duty currently payable and those which will be charged after the change: [table id=1754 /] The news will disappoint Buy to ...

Autumn Statement: Winners and losers

Investment Sense Verdict_istock Today’s Autumn Statement and Spending Review was relatively benign in terms of personal finance, with no changes to the main rates of tax, pensions (other than the State Pension) or savings. However, there were some significant surprises elsewhere, here are our early thoughts. Budget 2014: WinnersWinners People receiving Tax Credits Following a vociferous campaign against the proposed Tax Credit cuts, and the Government’s defeat in the House of Lords, George Osborne was always ...

Autumn Statement 2015: The headlines

The Chancellor, George Osborne, started his Spending Review and Autumn Statement in bullish mood, with a forecast that the four-year spending plan would deliver a budget surplus. However, he also confirmed that the £12 billion of welfare savings will be delivered “in full”, despite the House of Lords kicking out his plans to reform Tax Credits. The early sections of Mr Osborne’s speech were dominated by the usual assessment of the economy and forecasts for years to come, which are summarised as follows: GDP Growth The economy is predicted to grow as follows: 2015: 2.4% 2016: ...

Retirement: Find out how pensioners lose £104 million in just six months

Find out how pensioners lose 104 million in just six months 150pxPension Freedom was introduced in April, but some seven months on new figures show that it hasn’t solved one of the key problems faced by people when they retire. Despite many people, including well respected industry experts, predicting their demise, large numbers of people are still using an Annuity to turn their pension pot into an income. However, the failure of many people to shop around since the introduction of Pension Freedom, has already cost £104 million in lost future ...