As of yesterday, buying a house in London has become even more affordable. Why? What is the advantage?

To answer these questions, we must explain the new economic manoeuvre enacted by the government led by Boris Johnson.

In order to boost the economic system, several measures have been approved, including a reduction in Stamp Duty for those who want to buy a house in London or in the UK.

The intervention provides a NO TAX AREA for amounts up to 500,000.00 GBP for any kind of property and buyer. Let us give a concrete example of the applicability of the new legislation : let’s assume, for example, an investor decides to buy a two-bedroom flat with a value of 600,000 GBP. Whereas until 7 July 2020 this investor would have paid a stamp duty of GBP 38,000.00, from 8 July 2020 until 31 March 2021 would pay a Stamp Duty of GBP 23,000.00. So the investor gets a tax saving of GBP 15,000.00 or 40 %.

Eligibility:

Remember that the eligibility of the tax has no subjective discrimination, i.e. it applies to anyone making a property purchase whether they are a UK resident or not.

Therefore, in addition to obtaining an immediate average saving of 40 % on stamp duty, property investment by foreigners is also favoured by the exchange rate. Indeed, today the Pound Sterling has a value against the Euro of 1.12, one of the lowest recorded in the last year.

Related services:

Through our partner company Forex Privalgo Ltd in the person, of partnership manager William Stephenson email: wstephenson@privalgo.co.uk , we can offer you assistance in obtaining one of the most favourable exchange rates and lock the same rate on today’s date for twelve months thereafter, paying 10 % of the amount in countervalue.

Through our partnership with Global Family Plus Ltd we offer tax planning and relocation services, furthermore in partnership with TFO & Partners LLP we can respond to any legal needs related to property investment by contacting Matteo Cerri : m.cerri@thefamilyofficer.com or Mauro Mattei : m.mattei@tfo.partners .