Veterans planning to leave Scotland in the event of a yes vote?
Not true!
The proposal is no land and property tax up to property value of £135k
From £135k to £250k, you pay 2% on the value of your house above £135k
From £250k to £500k, you pay 10% on the value of your house above £250k plus 2% of £115k.
So for your example for a £300k property, you'd pay (115k*0.02)+(50k*0.1) =£7300. Currently, you would pay 3% on £300k = £9000.
I can't be bothered to do the arithmetic, but I think you start to 'lose out' if your property is worth more than £345k(ish)
At least that's how I have interpreted the way the tax will be imposed
The proposal is no land and property tax up to property value of £135k
From £135k to £250k, you pay 2% on the value of your house above £135k
From £250k to £500k, you pay 10% on the value of your house above £250k plus 2% of £115k.
So for your example for a £300k property, you'd pay (115k*0.02)+(50k*0.1) =£7300. Currently, you would pay 3% on £300k = £9000.
I can't be bothered to do the arithmetic, but I think you start to 'lose out' if your property is worth more than £345k(ish)
At least that's how I have interpreted the way the tax will be imposed
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Last edited by NutLoose; 9th Oct 2014 at 22:12.
Join Date: Feb 2006
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Sorry I couldn't resist.
Thread Starter
I'll admit I got it wrong! I saw a table with the headline figures and no real explanation. This sets it all out quite clearly:
BBC News - Who will be the winners and losers of the new Scottish stamp duty system?
BBC News - Who will be the winners and losers of the new Scottish stamp duty system?
