Concerns foreign investors: Johnson plans new property tax

              Friday, November 22, 2019

              For the high real estate prices in Great Britain, mainly foreign investors are blamed. And that wants to tax Prime Minister Johnson in the future more heavily. That is supposed to flush around 120 million pounds into the state coffers.
              The conservative party of British Prime Minister Boris Johnson has announced tax increases for foreign real estate investors in the event of her victory in the parliamentary election in December. According to the Tories of Friday, the tax for buyers from abroad would rise by three percentage points. The high proportion of foreign owners has been repeatedly co-responsible for the sharp increase in house prices in the UK. Meanwhile, buyers from home and abroad pay the same taxes, which are staggered by the value of the property at up to twelve percent of the purchase price. This final stage starts at a purchase price of 1.5 million pounds (1.8 million euros). According to the plans of the Tories to come in the future still a premium of three percent for investors who are not UK taxpayers. The Tories expect tax revenues of up to 120 million pounds (140 million euros) per year. The UK will continue to be "open to people coming to live, work and build a life in this great country," he said Finance Minister Rishi Sunak. The tax premium should enable people to have "a great place to live and start a family." Britain has repeatedly been criticized for the high rate of foreign real estate owners. According to studies, in recent years around one third of the investors in the center of London have come from abroad.

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