How do the property tax systems add up?
http://www.bbc.co.uk/news/uk-scotland-scotland-politics-30923025 Version 0 of 1. The Scottish Finance Secretary John Swinney has revised his planned property tax changes, due to come into effect on 1 April. His original scheme, announced in October last year, proposed new bands, plus a gradual tax, similar to income tax. Two months later, UK Chancellor George Osborne adopted the same gradual approach to stamp duty, but with different bands and rates. That move prompted a re-think by Mr Swinney who has now changed his proposal. Here are some random purchase prices showing the tax under the old stamp duty system; the new UK property tax; the draft Scottish system and the revised Scottish system...... What's the tax for a £135,000 house? What's the tax for a £233,000 house? What's the tax for a £325,000 house? What's the tax for a £490,000 house? What's the tax for a £560,000 house? What's the tax for a £1m house? |