How to invest in property and cut your stamp duty bill [Yahoo! Finance]
RIGHTMOVE PLC UNSP/ADR (RTMVY)
NASDAQ:AMEX Investor Relations:
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Source: Yahoo! Finance
We'd like to hear from you. Email money@telegraph.co.uk Part of the appeal of investing in property is it's a tangible asset. This provides a sense of security for many who like to be able to see and touch where they put their money. But it comes with downsides – namely stamp duty, one of the most hated taxes. Homebuyers paid £9.3bn in stamp duty between January and August this year, according to Coventry Building Society's analysis of the latest HM Revenue and Customs (HMRC) statistics – a 20.6pc increase on the £7.7bn paid over the same period last year. Those purchasing buy-to-lets are penalised with an extra 5pc on top of standard stamp duty rates and, while Conservative leader Kemi Badenoch pledged to scrap stamp duty should the party win the next election, this would only apply to primary residences. Therefore, investors need to be more creative if they want to get a return from property without paying this tax, while cutting their bill. Here are some ways around it.
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