New Tax Will Hit 1st Time buyers Hard

New tax "will hit first time buyers hard"

A leading Jersey law firm says a new property tax is going to hit first time buyers hard.

The Land Transaction Tax will impose a 3% stamp duty for the first time on share transfer properties, which tend to be flats.

Benest and Syvret say the tax is going to prevent some people from getting onto the property ladder and claims it is being introduced at the worst possible time.

Philip Syvret wants the States to follow the UK Chancellor's lead and suspend stamp duty for one year on properties at the lower end of the market. He says with banks making it incredibly hard for people to secure funding, any extra costs are going to stifle new property deals.


Isnt buying a house on a share transfer a way that companys / directors get around buying a house without paying stamp duty.
Just how many normal 1st time buyers ( employed ) buy on a share transfer ?

What i understand of it is that its a good thing for the normal person and not so good for the company / corperate director.

Is It ?