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Reviews of Avrillo

Avrillo have many years experience within the law industry which shows in the excellent reviews they receive. Using this wealth of knowledge we go out and review top industry firms & tools. We also add reviews of Avrillo and show the feedback that the compay has received.

A V Rillo & Co and stamp duty

A V Rillo & Co and stamp duty

Like other conveyancing firms, A V Rillo & Co will ensure that the correct stamp duty is paid on the house purchases the company facilitates.

What is Stamp Duty? – How it adds to A V Rillo & Co costs

Stamp duty is an ancient way of raising revenue, having been begun in the United Kingdom in the seventeenth century as a way of financing war against France. Nowadays, it mostly applies to property transactions, such as those handled by A V Rillo & Co.

A V Rillo & Co and property taxes – the cost of house purchase

From time to time, stamp duty thresholds are raised to take account of house price inflation. However, there is inevitably a time lag, and nowadays virtually all the house purchases handled by A V Rillo & Co in London will incur stamp duty. An exemption for transactions in Disadvantaged Areas was abolished in April 2013, so current A V Rillo & Co clients cannot claim this either, </h2>

Stamp duty thresholds and A V Rillo & Co fees

A V Rillo & Co rarely handle London house purchases below the stamp duty threshold, which currently stands at £125,000. The lowest band, on properties priced between £125,001 and £250,000, is charged at 1.25 per cent of the purchase price. The next band, from £250,001 to £500,000, is charged at 2.5 per cent, a substantial sum for most people. With house prices at their current high levels, most A V Rillo & Co clients will have to pay this tax at this rate at least, in addition to their other costs.

A V Rillo & Co, stamp duty and political pledges

At the 2007 Conservative Party Conference in Blackpool, the then Shadow Chancellor, George Osborne said that a future Conservative government would abolish Stamp Duty for first-time buyers on properties costing up to £250,000. However, this pledge was not honoured by the coalition government which took power in 2010, though the 2010 budget did end stamp duty on homes under £250,000 for first-time buyers for a two-year period. In the same budget, the Chancellor introduced a new 5 per cent rate for properties costing over a million pounds. These are, of course, house purchase expenses over which A V Rillo & Co has no control.

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