Homeowners have expressed relief after the extra 3% stamp duty surcharge set to be charged on granny annexes was withdrawn by the Government.
With living as an extended family becoming increasingly popular as a means of looking after elderly parents or for grandparents to help with childcare, and with boomerang children moving back home after finding the cost of being a property owner prohibitive, Granny Annexes have become a lifeline for many families. Homeowners were especially baffled by the proposed tax as homes with annexes had previously benefitted from a Council Tax cut in 2014, which was an incentive for many to build them.
The extra tax was set to add thousands to the bills of home buyers, potentially discouraging them from buying houses with annexes and reducing the value of those homes.
At West Wales Property Finders we have found a number of homes with granny annexes for multi-generational clients. We even found a property to house four generations of a family ranging from their late 90s to a 5 year old great grand child. This means of living works superbly for many families and the Stamp Duty surcharge went against everything the Government has been trying to promote. It was an unintentional result of the new rates for second homes and fortunately the Government has acted quickly to resolve the matter.
If you are thinking of moving to Pembrokeshire, Carmarthenshire, Ceredigion or Gower, or buying a holiday home here, give West Wales Property Finders a call on 01834 862816. We can help you find your dream home whilst saving you time, money and stress. Over 80% of the properties we find our clients never hit the open market, ensuring they get the pick of the crop. www.westwalespropertyfinders.co.uk
Relief as Ludicrous Granny Annexe Tax is Repealed – The Telegraph 12.4.16
