Autumn Statement offers Government support for the housing market Hamptons
International has reacted positively to the news that Government does not intend to pursue further tax legislation that specifically targets the owners of high-value properties and has decided against an Annual Charge.
Marc Goldberg, Head of Sales at Hamptons International, commented on these announcements: "We are delighted and relieved that the Government will no longer be introducing an annual charge on £2million plus homes. This would have been disastrous for many existing homeowners who had bought their homes in holding companies and would have forced many to reluctantly sell their properties.
We are fully supportive of the Government's attempts to put a stop to Stamp Duty avoidance. However, we continue to hope that the details due to be published next week will also see an end to the 15 per cent Stamp Duty rate for 'non natural' buyers of £2millon plus homes as this has deterred many overseas buyers along with investors and developers from purchasing in the UK over the past several months."
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About Hamptons International
Hamptons International is a leading residential estate agent and property services organization, operating in London and the South of the UK. With more than 140 years of experience in the property market and a commitment to industry innovation and exceptional levels of customer service, Hamptons International today offers a wealth of award-winning services including UK and international Sales, Lettings, Property Management, Corporate Services, Residential Development, Development Land, Valuation and Property Finance.
Headquartered in London's Mayfair, Hamptons International has an international network of more than 85 offices and is a subsidiary of Countrywide, the UK's largest estate agency and property services group.