What taxes do I have to pay to buy a property in Edinburgh?

Do I have to pay taxes when I buy a house in Ireland? That's for sure. No matter which country you buy a house in, you need to pay some real estate tax, but the real estate tax paid here is not very high. After all, if you plan to live here for a long time, you must pay real estate tax. Then after you pay the real estate tax, you can live in the house you like and find some jobs you like around.

As the name implies, income tax refers to the tax paid by your personal income. The tax payment time is from April 6th of each year to April 5th of the following year. At present, personal income tax belongs to HM Revenue & amp； Customs) collection management.

Generally speaking, the income of people living in Britain can be divided into two parts: income in Edinburgh and income outside Edinburgh. It's personal income tax, and personal income tax is a step-by-step tax rate according to different incomes.

Stamp duty is a very important tax in Britain, and Edinburgh is no exception. Because the stamp duty of each city is different, according to the assets purchased, the high value of the property means the high amount of stamp duty paid, and the low stamp duty means the low value of the property. As an investment immigrant, the stamp duty on general purchases is about 4%, and the real estate needs to be between 1 10,000 pounds. The real estate with more than 2 million pounds only needs to pay 15%.

Value added tax. Almost all houses will be subject to VAT, and Edinburgh is no exception. As for the value-added tax in Edinburgh, because everyone's specific area and property type are different, the value-added tax can only be served by lawyers.

Municipal property tax. After this is used in ordinary houses, the taxes and fees that need to be paid for life are generally between 900 and 3,000 pounds.

In addition, the notarization fee is between 0.03% and 0.45% of the property value. The notarization fee with a value exceeding 601.012.10 euros depends on the agreement between the notary and the client.

Property transfer tax, ranging from 6%- 10%, is required for buyers to resell property (not brand-new), depending on the autonomous region. Edinburgh's property transfer tax rate is 6%.

Property transfer tax shall be paid by the relevant tax authorities. In cities without specific tax authorities, the registration office has to pay money during the registration process.