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Stamp duty analysis and tax refund

Professional Stamp Duty Analysis

When buying property in the UK, buyers need to pay Stamp Duty, which can vary widely based on different circumstances. Especially those who immigrate to the UK with BNO VISA are often confused about the UK’s “first home purchase” criteria or money transfers. Our professional accountants can evaluate your actual stamp duty expenses for you in accordance with the latest tax standards and your actual situation. In individual cases, the effect of reducing tax expenses can be achieved.


Stamp duty

Anyone who buys property in the UK has to pay stamp duty. From September 22, 2022, the stamp duty rates are as follows:

property price

tax rate

Less than £250,000


£250,001 to £925,000


£925,001 to £15,000,000


Over £15,000,000



Mr. Huang (pseudonym) has immigrated to the UK with a BNO VISA for more than a year. He once bought a property in Hong Kong and sold the property before immigrating to the UK. He is currently a UK tax resident. He bought a property worth £300,000. The first £250,000 is tax-free, and the remaining £50,000 is subject to 5% tax, which is £2,500.

First Time Buyer Stamp Duty

If you have never bought or sold any property in the world, and the UK is the first time you buy a property in your life, you can enjoy the First Time Buyer Stamp Duty discount. From September 22, 2022, the tax rates for first-time home buyers are as follows:


property price

tax rate

Less than £425,000


£425,001 to £625,000


£625,001 or more

No tax incentives, calculated according to normal first home purchase stamp duty


Mr. Huang (pseudonym) has immigrated with BNO VISA for more than one year. He has never bought a property anywhere on the earth. He is currently a British tax resident. He purchased a property worth £300,000, and he does not need to pay stamp duty during the transaction.

  • How does WONG&YIP Accountants handle tax issues for customers?
    Our professional accountant team is composed of licensed accountants in Hong Kong and the United Kingdom, and serves individuals, companies, and real estate investment in three categories. ‧Personal aspects: We can provide clients with professional assessment and analysis, answer tax-related questions, and handle tax declaration procedures for clients to ensure that all procedures are compliant. ‧Company aspects: We can help customers establish companies from scratch in the UK, handle daily bookkeeping and accounting work, set up payroll systems, contract company accounting services, prepare financial statements, and handle UK and EU value-added tax, etc. ‧Real estate investment: We can handle stamp duty assessment and tax refund for customers, and tax issues for overseas owners.
  • How much is the fee of WONG&YIP Acountants?
    Since the tax issues or handling methods faced by different people are very different, our service charges will be flexible, depending on the needs and circumstances of customers, and we will give customers fair and reasonable quotations.
  • What documents do I need to prepare?
    Since everyone's tax problems are different and the required information is also different, we recommend that customers contact us with WhatsApp first and explain your situation initially. We will discuss the relevant inquiries with customers and then prepare relevant documents for us to improve services. quality and efficiency.
  • How do accountants protect clients' privacy and confidential information?
    All of our accountants are licensed professional accountants. In all cases, the principle of confidentiality will be observed. Unless legal or professional obligations require disclosure, all information will be kept confidential. We will require customers to sign a confidentiality agreement, encrypt the data provided by customers, keep customer information in a safe place, and protect network security through firewalls and anti-virus software. Management customers no longer need to use the data.
  • What are the benefits of finding a professional accountant to handle taxation?
    Our accounting and taxation services can help clients manage their personal or corporate tax situations more efficiently, and at the same time provide clients with professional tax advice, such as providing advice on reducing tax expenses and improving their personal or corporate financial status.
  • What is the use of outsourcing company accounting services? What are the benefits?
    For start-ups, due to limited resources, most of the accounting work will be undertaken by the founders alone. By outsourcing the accounting work to our company, the boss can focus more on business development, and at the same time avoid being unfamiliar with accounting operations or tax systems. resulting in losses. In the UK, the cost of hiring a professional accountant is high. By outsourcing the accounting work to a professional accountant, you can enjoy professional accounting services at a lower price and avoid the problem of hiring the wrong person. Therefore, outsourcing accounting services is often used in many cases. It's all safe practice.

Reduce tax expenses

Under certain circumstances, buyers can apply to pay another tax, thereby reducing tax expenses and achieving a "tax refund" in disguise. The condition is that the property needs to be bought within 4 years, stamp duty has been paid for the property at the time of purchase, and then major repairs have been made to the property. We can apply to HMRC for you to pay another tax after the professional assesses the condition of the property. Thereby reducing overall tax expenses.

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