23 Mar '12, 9am

Ben quoted in

Buyers of homes above £2 million (S$4.02 million) in the United Kingdom will have to pay a 7 percent Stamp Duty today, up from the previous figure of 5 percent, while those who buy properties through companies will have to pay an extra 15 percent. The U.K’s Finance Minister George Osborne, in his Budget statement yesterday, acted to close a loophole where people were buying properties through offshore companies to avoid paying tax. The new rules have already come into force, and most agents contacted by PropertyGuru were supportive of the plans and are not expecting a substantial impact on levels of foreign buyers in London and elsewhere in the UK. Donna Houguez, Market Analyst at Quick Move Now - the U.K's leading home buyer, said: “The announcement that stamp duty is to be raised to 15 percent for companies purchasing properties worth over £2 million is a good thing for ...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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