New Stamp Duty Changes April 2016

Q&A: STAMP DUTY CHANGES

Who is affected?

Those buying a buy-to-let property or a second home will face higher stamp duty tax bills. 

What are the changes?

Under new rules, 3 per cent will be added to every single stamp duty band for buy-to-let and second homes - including the previously tax-free element.   

For those snapping up a £275,000 home, the current rate of stamp duty means a £3,750 stamp duty bill.

This is worked out by:

0% on the first £125,000 = £0

2% on the next £125,000 = £2,500

5% on the final £25,000 = £1,250

Total SDLT = £3,750

But adding the 3 per cent surcharge will see the price of the tax rocket for landlords.

3% on the first £125,000 = £3,750

5% on the next £125,000 = £6,250

8% on the final £25,000 = £2,000

Total SDLT = £12,000 

When are the changes coming into effect?

From 1 April 2016.  

Can landlords offset these costs?

Yes. They can claim stamp duty back later against capital gains tax bill. 

If they sell up their property later at a profit, they can offset purchase costs against any eventual CGT, which includes stamp duty. 

Investment With Martin & Co

We have a great two bedroom flat in Padbury Drive which is brand new to the market. A lot of interest already so you will have to be fast!

Near the train station and near the town... This will rent fast!

This property will achieve a rent of £750 pcm and have a gross yield of 5.6%. Call now for your viewing.

http://www.rightmove.co.uk/property-for-sale/property-38385984.html

HMO For Sale!

We are currently offering an immaculately presented fully HMO compliant and licensed, fully tenanted & fully managed terraced property, with 10 Double Bedrooms in Banbury Town Center. 

This Fantastic Grade II Listed freehold HMO property comprises 10 bedrooms, all refurbished to an immaculately high standard, with brand new facilities throughout. The property also benefits from 2 large kitchens and a large reception/dining room, and 6 bathrooms.

The property has gas central heating throughout with a system combination boiler. and is of standard stone & tile construction. 

This property provides a ´turn key´ property investment solution to both private and institutional clients with a focus on high yielding accommodation in a town center location.

The gross income on this property per annum is £60,780!

http://www.rightmove.co.uk/property-for-sale/property-49984967.html?premiumA=true

Steal With Taylors!

Taylors have got a bit of a steal in Harlech Close!

Two bedroom property for £165,000. No pictures ... will assume it needs a bit of work ... but certainly room in their to get a good return on rent or capital growth!

Worth a look! more details below.

http://www.rightmove.co.uk/property-for-sale/property-37671777.html

Great investment on Rosemary Drive with Connells

Connells have taken on a two bedroom apartment on the popular Hanwell Fields Estate. Accommodation includes -: Entrance door , good size lounge with kitchen , two bedrooms and a bathroom. There is also allocated parking to the rear of the apartment.

This also has no onward chain!

The gross yield for this property would be 6.14% with a monthly rent of £750 .... With the rental market as buoyant as it is ..... this rent is constantly increasing.

This property would rent easily and is on at a very attractive price. Certainly worth a viewing!


Take a look!...... http://www.rightmove.co.uk/property-for-sale/property-53669960.html

Popular Location! Easy to rent!

Thomas James have listed this two bedroom flat in Hanwell Fields for £155,000.

The flat is on the top floor of the block. The property comprises of two bedrooms, kitchen, open plan lounge with Juliette balcony as well as an en suite to the master bedroom and a bathroom. The property also benefits from having allocated parking and being double glazed throughout.

We manage lots of these flats in the area and have tenants looking!

If you purchased this property you would look to achieve £750 pcm in rent creating a gross yield of 5.8%

Sounds like it is worth a viewing! Have a look ... http://www.rightmove.co.uk/property-for-sale/property-50730790.html

Sound the Alarms! New legislation is imminent.

New laws relating to ‘Smoke and Carbon Monoxide’ (CO) alarm provision come into effect from 10^th October 2015 and you need to ensure that all your landlords in England are aware and compliant.

Landlords will be required to install smoke alarms on every floor of their property and test them at the start of every tenancy. High-risk rooms-such as those where a solid fuel heating system is installed-will also need carbon monoxide alarms installed.

Licenced HMOs, Social Housing and other residential buildings already covered by existing regulations are excluded. Properties where accommodation is shared with the landlord may also be excluded.

There are several companies including British Gas (britishgas.co.uk/lettings or telephone 08001077797) who offer a service to install these alarms. Some local fire brigade departments are offering to install smoke alarms for free in some areas, so please contact them to find out. There are other companies such ‘gas-elec’ group (www.gas-elec.co.uk/6pack telephone 0800587999) but you may want to use your own local companies as long as they are registered with ‘Gas Safe Register’ etc.

For more information on this please call our office on 01295 701773.