Archive: March 16, 2016

Stamp Duty Changes From 1st April 2016

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The Chancellor, George Osborne today announced the introduction of new higher rates of stamp duty on the purchase of additional residential properties with effect from 1st April 2016. The new rates will apply to purchases of additional residential properties with chargeable consideration of £40,000.00 or more and will apply a 3% surcharge to the existing rates. The following rates will apply: £0.00 – £125,000.00              3% £125,001.00 – £250,000.00  5% £250,001.00 –…

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Budget Summary 2016

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Here’s the headline changes announced in the Budget by the Chancellor, George Osborne today Personal Taxation The threshold at which people pay 40% tax will rise from £42,385 to £45,000 next April Tax-free personal allowance to rise to £11,500 1% rise in insurance premium tax Capital Gains Tax to be cut from 28% to 20%, and from 18% to 10% for basic-rate taxpayers Annual Isa limit to rise from £15,000 to…

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