How to collect property tax in Britain

In China, property tax is a kind of property tax levied on property owners according to the taxable residual value or rental income of houses. Housing plays an important role in the economic development of China. Different countries will levy property tax, so how does Britain levy property tax? Today, I answer your questions, hoping to help you.

First, how to collect property tax in Britain

Property tax is called StampDuty in Britain.

In Britain, all houses must pay stamp duty at the time of purchase according to the policy.

There are two types of real estate in Britain: fully owned and leased.

After buying a property, the lifelong holder does not need to pay the rent (several hundred pounds a year) and the property fee (more than one thousand pounds a year) every year.

If you buy a leased property, you need to pay these two fees every year.

20 14, 14 On February 3rd, British Chancellor of the Exchequer Auburn released the latest "Autumn Financial Report" in London.

Among them, a series of adjustment policies on the property stamp duty (SDLT) were clarified, which came into effect on February 4, 2004.

This reform is regarded as the boldest reform plan for the real estate market before the British election.

Two. Changes of real estate stamp duty collection;

The change of British real estate stamp duty policy mainly involves three aspects:

1. Calculation method: Step-by-step calculation, and specific tax rate is levied by dividing different transaction price ranges, instead of the original calculation method based on the total transaction price of real estate.

2. Collection scope: divide the collection scope of the new tax rate.

3. Tax rate change: adjust the tax rate according to the new collection interval.

The specific new regulations are as follows:

Interval 1: The final transaction price of the property is125,000 (equivalent to about RMB125,000), and stamp duty is not required.

Interval 2: The house price ranges from 6,543,800+0.25 million to 250,000, starting from 6,543,800+0.25 million, and the excess is calculated at the tax rate of 2%.

Interval 3: The house price is between 250,000 and 925,000. From 250,000 onwards, the excess is calculated at the tax rate of 5%.

Interval 4: The house price is 92.5-654.38+0.5 million and 925,000, and the extra part is calculated at the tax rate of 654.38+00%.

Interval 5: The part where the house price exceeds 6,543.8+0.5 million yuan shall be uniformly calculated at the tax rate of 654.38+02%.

Take a 700,000-pound (about 7 million RMB) property represented by British Hengtong Real Estate Agency as an example:

Under the new policy, similar to the ladder calculation method of domestic water fee, the taxable amount of 700,000 pounds will be divided into three ranges:

1:0-125,000 is not required to calculate the property stamp duty;

Within the range of 2:12.5-250,000, a fixed stamp duty of 0.25 million will be charged;

Interval 3: The excess part of the remaining interval 3 is subject to real estate stamp duty at the rate of (70-25) * 5% = 22,500.

New stamp duty: 0+0.25+2.25 = 25,000.

Old stamp duty: Compared with the stamp duty of the old policy property, the total transaction amount of the 700,000-pound property should be calculated according to the stamp duty of 4%, which is 28,000 pounds.

The total cost saving is: 03,000 pounds (equivalent to 30,000 RMB).

To sum up, the British property tax will be beneficial to the development of the British real estate market and play a good role in promoting it. This time, the real estate tax reform in Britain is very beneficial to the buyers who will be in Britain.