UK's $1m home buyers now pay among lowest tax rates in Europe

News Team, 28/07/2020

Some prime property buyers in the UK are paying among the lowest property tax rates in Europe, following the temporary cuts to stamp duty introduced in the chancellor’s summer statement.

International accountancy firm UHY conducted analysis which shows UK buyers would pay just 1.93 percent on a property worth $1 million, compared with the Europe average of 4.53 percent.

UK chancellor Rishi Sunak announced on 8 July that buyers would pay no stamp duty...

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