租賃產權 與 永久產權
天哥 Tim Earle
HONG KONG WHATSAPP: +852 5225 4370
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Portsmouth | Scotland: 快將推出 密切留意
🏴【Invest in Scotland】AVOID Non-Resident Stamp Duty Surcharge
Whilst this most famous part of the UK is well known around the world for its tourist attractions and beautiful countryside, to date very few international investors have taken advantage of the opportunities available in this independent nation. But that is now changing thanks to growing interest from astute investors in Hong Kong.
One of the most obvious benefits in Scotland is that all property is typically owned on a freehold basis. This is a clear benefit if you are considering the purchase of an apartment when compared to purchasing in England, where the vast majority of apartments are sold as leasehold.
Benefits of Scottish Property
All properties sold as freehold
The 2% non-resident stamp duty surcharge is NOT applicable
Easily access to low-priced freehold investments
Yields are typically above the average in England
Many areas achieving above average capital growth
Simplified conveyancing process
Leasehold vs. Freehold
Leases and the ground rents payable by leaseholders to freeholders in England are currently the subject of a major review by the UK Government. Restrictive leases and unfair ground rent terms (which can see ground rent charges doubling and tripling under the terms of the lease) mean owners of leasehold properties in England can have many issues to deal with which can be expensive and even prevent them from being able to sell their property.
Being able to buy low-priced, high yielding apartments in Scotland on a freehold basis means that you do not have to deal with these complicated issues. You are also able to access good quality freehold property at price levels typically not accessible in England.
Stamp Duty in England vs. LBTT in Scotland
The UK Government will impose an additional 2% non-resident surcharge on the current stamp duty payable from 1st April 2021. At the end of the current stamp duty holiday period, this will have a major impact on the cost of buying in England for a non-resident. However, Scotland has its own stamp duty equivalent known as Land & Buildings Transaction Tax (LBTT) and the non-resident surcharge will not be applied. The current rate of LBTT for buy-to-let and second homes up to GBP250,000 is currently 4%.
Starfish offers investment properties all across Scotland. If you wish to know more, please contact us for free consultation!