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CHARTERED ACCOUNTANTS IN THE UK AND HONG KONG
STAMP DUTY ANALYSIS & TAX REFUND
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
0%
£250,001 to £925,000
5%
£925,001 to £15,000,000
10%
Over £15,000,000
12%
Example:
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
0%
£425,001 to £625,000
5%
£625,001 or more
No tax incentives, calculated according to normal first home purchase stamp duty
example:
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.
FAQ
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.
Wong & Yip Accountants – Chartered Accountants in Manchester
Over 30 Years of Accounting & Tax Expertise
Wong & Yip Accountants is a firm of chartered certified accountants (ACCA & FCCA) based in Manchester, with over 30 years of professional experience. We specialise in accounting, taxation, VAT solutions, business advisory, and cross-border services.
Our mission is simple: to be the most professional, reliable, and trusted local accounting practice in the UK, helping clients grow with confidence.
Why Choose Wong & Yip Accountants?
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30+ Years of Experience – trusted by thousands of businesses across the UK and globally.
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Trilingual Support – English, Native Cantonese, and Native Mandarin-speaking ACCA-qualified accountants
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Specialists in the Oriental Market – we share your culture, language, and community.
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Client-Centred Approach – “Clients First” is our philosophy. Every solution is tailored to your unique needs.
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One-Stop Business Solutions – from UK tax compliance to cross-border e-commerce support.
Industries We Serve
Our clients range from small start-ups to multi-million-pound businesses with turnover between £20,000 and £5,000,000.
We serve a wide variety of industries, including:
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Takeaways & Restaurants
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Traditional Chinese Medicine Practitioners
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Sourcing & Trading Agents
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Cross-Border E-commerce (Amazon, eBay sellers, Shopify stores)
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Law Firms & Legal Practices
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Telecoms & Education Agents
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Construction & Engineering
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Printing & IT Services
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Landlords, Taxi Drivers, Investors, and Translators
We also collaborate closely with law firms, immigration consultants, and financial asset managers, ensuring a comprehensive one-stop service for our clients.
Our Services
At Wong & Yip Accountants, we provide a full range of services, including:
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Accounting & Bookkeeping
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UK VAT Solutions & Compliance
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Corporate Tax & Personal Tax Planning
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Payroll & PAYE Management
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Cross-Border E-commerce Solutions
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Global IP & Trademark Advisory
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Business Advisory & Management Consulting
Empower Your Global Ambition With Us – we combine technical expertise with cultural understanding to deliver results that help your business grow.
Recognition & Memberships
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Member & Fellow Member of ACCA (Association of Chartered Certified Accountants, UK)
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Trusted Tax Advisors for Amazon & eBay Sellers
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Nominated for E-commerce Agent Awards – recognised for our efficient and diligent support of online sellers.
What Our Clients Say
“Wong & Yip Accountants is the most trustworthy firm. They are highly competent and always put my business interests first. I have complete confidence in them, and I have no hesitation in recommending them to you!”
— Sam Leung, Nougart
“Since moving our business to Wong & Yip Accountants, I’ve been impressed by their professionalism, friendly attitude, efficiency, and the consistently high standard of advice and service.”
— Chris, Wakuwaku Japan
“For nearly 30 years, we have benefited from first-class, bespoke payroll and business advisory services from Wong & Yip Accountants. Their combination of skill, efficiency, and professionalism—while remaining approachable—makes them an integral part of our team. We would have no hesitation in recommending their services.”
— Alex, UKTesla
“Wong & Yip Accountants took the time to truly understand our business from the inside. Their recommendations proved invaluable, transforming the way we work.”
— Kurl, Interpropset
“Wong & Yip Accountants are proactive and supportive in every new business venture, enabling me to make informed commercial decisions with confidence. We wouldn’t be where we are today without them. Highly recommended.”
— Tracy, Woodland International
Leadership
Henry Yip, BA, FCCA, HKICPA
Henry Yip is recognised as one of the UK’s leading experts in non-UK domicile taxation. With a strong entrepreneurial and commercial mindset, he has helped hundreds of clients succeed in their UK and international business ventures.
