
5 Things Homeowners Wish They Knew Before Buying a Home in the UK
January 24, 2025
Rents: Falling Elsewhere, Rising in London—But Don’t Panic, It’s Not All Bad!
February 11, 2025Ah, April—the month of spring blossoms, lighter evenings, and… tax changes. While we’d all rather be in a beer garden than deciphering HMRC updates, ignoring them might cost you. And in the UK property market, every penny counts!
1. Capital Gains Tax: A Painful Cut for Landlords
Selling a second home? Brace yourself. The Capital Gains Tax (CGT) exemption is plummeting from £6,000 to £3,000. Translation? More of your profit goes to the taxman. Ouch. Now might be a good time to befriend an accountant—or at least Google “tax efficiency” over your next coffee.
2. First-Time Buyers: Move Fast or Pay More!
If you’re a first-time buyer, this could be your last chance to dodge a tax hike. Right now, you pay zero Stamp Duty on properties up to £425,000—but with an election looming, who knows what’s next? Don’t wait until politicians start meddling; buy now and save yourself a headache (and some serious cash).
3. National Insurance: A Tiny Win for Workers
Good news! The National Insurance rate is dropping from 10% to 8%, meaning a little extra in your pocket. Will it buy you a house? Probably not. Will it buy you a round at the pub? More likely.
4. Mortgage Rates: A Glimmer of Hope
Not a tax, but still worth mentioning. Mortgage rates are finally settling down. If you’ve been waiting to buy, this could be your moment—before demand spikes and prices shoot up again.
Final Thoughts: Act Now or Pay Later
Landlords are getting squeezed, workers get a tiny break, and first-time buyers? You have a golden window—but it won’t stay open forever. If you’re serious about getting on the ladder, don’t wait for tax rules to change.
And if all this tax talk is making your head spin, grab a strong cuppa, hire a savvy accountant, and remember—at least spring is here. The taxman may be taking more, but at least the sun is (hopefully) making an appearance!