Friday 6 December 2019 ,
Friday 6 December 2019 ,
Latest News
  • Shooter kills 2, wounds others at US Navy base
  • Deferment of Khaleda's bail petition hearing unprecedented: BNP
  • No change in post of AL president in next council: Quader
  • India vet rape and murder: Police shoot dead 4 suspects
  • Nation divided on Hyderabad encounter
  • Cinematographer Mahfuzur Rahman dies
  • Uber had 6,000 US sexual assault reports in 2 years
  • Modi, Pranab, Sonia likely to attend Bangabandhu’s birth centenary celebrations, says Foreign Minister AK Abdul Momen
23 November, 2019 00:00 00 AM
Print

UK Tories plan property tax hike for foreign buyers

Our Correspondent

Britain’s Conservatives said yesterday they will make foreign individuals and companies pay more tax on residential property purchases if they win next month’s election.

Prime Minister Boris Johnson’s party said it would levy an additional three per cent surcharge on the country’s stamp duty land tax for buyers who are not tax residents in Britain.

UK residents and foreign buyers currently pay the same level of stamp duty, which is applied at various rates that rise with the value of the transaction.

There has been sustained critism of the level of foreign ownership of properties in Britain, primarily in London, despite drops since the 2016 Brexit referendum amid ongoing eco17nomic uncertainty.

There are no official statistics on the sales of residential property to overseas buyers, but studies show they have accounted for as much as a third of purchases in parts of central London in recent years.

Meanwhile, a 2017 York University report showed that 13 per cent of new homes across the capital were bought by non-residents in 2014-16. Analysts and political parties agree this inflates house prices and makes it harder for people to get a foothold on Britain’s notoriously expensive property ladder.

The Conservatives estimate the stamp duty surcharge will raise up to £120 million ($155 million, 140 million euros) a year, which they say will help fund programmes to tackle rough sleeping.

 

Comments

Most Viewed
Digital Edition
Archive
SunMonTueWedThuFri Sat
01020304050607
08091011121314
15161718192021
22232425262728
293031

Copyright © All right reserved.

Editor : M. Shamsur Rahman

Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Disclaimer & Privacy Policy
....................................................
About Us
....................................................
Contact Us
....................................................
Advertisement
....................................................
Subscription

Powered by : Frog Hosting