Msps Back Second Home Charge Plan: 3% Over £40K

[cashinmattress]

http://www.bbc.co.uk/news/uk-scotland-35552559

MSPs back second home charge plan

Holyrood's Finance Committee backed a new supplement of 3% of the total price of properties over £40,000.

http://www.bbc.co.uk/news/uk-scotland-scotland-politics-35113952

According to the Scottish Fiscal Commission, the official watchdog of the Scottish government's tax and spending plans, the supplement on LBTT will affect between 8,500 and 12,500 transactions each year, and could raise between £19m and £27m.

Also;

http://www.scottishfinancialnews.com/7558/msps-back-tax-on-second-homes/

The committee has therefore called for the introduction of a relief on bulk purchases of six properties or more.

Comments...

Edited February 12, 2016 by cashinmattress

[ccc]

They also mentioned some sort of grace period - but I didnt quite understand what it meant ?

The 6 or more is a bit strange - whats the point ?

[AC44]

Osborne has done a grace period, and thats why house prices are rising. On housing it seems all the parties are the same.

The 6 has probably got to do with the big fish. They only want to tax the small and medium btl. Again see 2nd sentence above.

[ccc]

Cheers for clearing that up.

I am not sure with the 6+ reasoning and whats going to happen behind it. I am all for large properly run rental 'porfolios'run by people that know what they are doing at a professional level. However I dont see why they should get a 'discount' compared to others - and I also don't see how it is going to be policed in terms of whether they really are planning to offer a decent service - or are just shysters - but on a larger scale.