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Main office
COLBURN
5 & 6 BAILEY COURT
COLBURN BUSINESS PARK
RICHMOND
NORTH YORKSHIRE
DL9 4QL
Estate Agency Offices are located in
BARNARD CASTLE, BOROUGHBRIDGE & RICHMOND
Residential Management Team
Our Offices
The Chancellor Philip Hammond’s 2017 Spring Budget on the 8th March 2017 was a bit of a damp squib and is the first of two Budgets scheduled in 2017, arriving little more than 3 months after the Autumn Statement.
Specific points of note included:-
Value of Estate | Proposed Fee |
Up to £50,000 exempt | £0 |
£50,000-£300,000 | £300 |
£300,000-£500,000 | £1,000 |
£500,000-£1,000,000 | £4,000 |
£1,000,000-£1,600,000 | £8,000 |
£1,600,000-£2,000,000 | £12,000 |
Over £2,000,000 | £20,000 |
Residential | Rate | Non- Residential | Rate |
£0-£125,000 | 0% | £0-£150,000 | 0% |
£125,001-£250,000 | 2% | £150,001-£250,000 | 2% |
£250,001-£925,000 | 5% | Over £250,000 | 5% |
£925,001-£1,500,000 | 10% | ||
Over £1,500,000 | 12% |
Whilst the Chancellor Philip Hammond emphasised in his speech that a “strong economy needs a fair, stable and competitive tax system creating the growth that will underpin the Country’s future prosperity”, the general consensus is that the Autumn 2017 Budget is likely to see more significant changes from a taxation perspective. In the meantime, some of the changes introduced will impact on the property market and if you think that you will be affected by any aspect of the budget you should take appropriate professional advice.
[team-member name=”Ashley Dodgson”]