Close Menu
Invest Intellect
    Facebook X (Twitter) Instagram
    Invest Intellect
    Facebook X (Twitter) Instagram Pinterest
    • Home
    • Commodities
    • Cryptocurrency
    • Fintech
    • Investments
    • Precious Metal
    • Property
    • Stock Market
    Invest Intellect
    Home»Property»UK has highest property taxes of developed nations – and going up | Personal Finance | Finance
    Property

    UK has highest property taxes of developed nations – and going up | Personal Finance | Finance

    March 24, 20252 Mins Read


    The UK now has the highest property taxes of any developed nation, according to a new analysis, with households and businesses bracing for increased bills starting next week.

    In the 2023/24 tax year, the UK’s property tax burden – encompassing council tax, business rates, and stamp duty – was 3.7% of its gross domestic product (GDP). This rate is the highest among advanced economies, surpassing other nations like Luxembourg, France, and Canada, which all had property tax burdens ranging between 3.4% and 3.5%, according to research by tax and software firm Ryan, using data from the Organisation for Economic Cooperation and Development (OECD). Korea placed fifth at 3.3%.

    Israel, which had previously held the top spot for property taxes, dropped to sixth place with a ratio of 3.2%. The UK’s property tax-to-GDP ratio was significantly higher than the 2.7% average across the Group of Seven (G7) leading economies.

    Despite a slight reduction of 0.3 percentage points from the previous year – thanks in part to larger business rate discounts for some companies – the UK still maintains its position as the country with the highest property tax burden.

    This analysis comes as new tax hikes are set to take effect next month. Starting in April, households will face a 5% rise in council tax for the third consecutive year, with nearly all councils opting for increases close to the maximum allowed.

    This will raise the average annual council tax bill for a band D property by £109 to £2,280.

    The council tax hikes are largely a response to rising cost pressures and increased demand for local support services.

    Meanwhile, in the housing market, stamp duty relief will also become less generous. First-time buyers in England and Northern Ireland will be required to pay stamp duty on properties costing more than £300,000, down from the current £425,000 threshold.

    Additionally, many businesses, particularly in retail, hospitality, and leisure sectors, will see their tax bills rise when the government’s discount on business rates is reduced from 75% to 40%. This change, part of measures announced in last year’s autumn Budget, will add financial pressure on many small businesses already struggling with rising costs.



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    Elanor Commercial Property Fund annonce la distribution du quatrième trimestre fiscal

    Property

    The eight tricks that will get you money off your dream home, by property guru PHIL SPENCER – including exactly how much to offer under asking price

    Property

    UK family home for sale for £1 and it’s not far from the city centre or beautiful beaches

    Property

    Primaris Real Estate Investment Trust : National Bank conserve son opinion neutre

    Property

    Climate change and property – solicitors’ questions answered

    Property

    Heiwa Real Estate REIT émet de nouvelles parts par attribution à un tiers pour financer des acquisitions d’actifs

    Property
    Leave A Reply Cancel Reply

    Top Picks
    Fintech

    Mercurity Fintech Holding Inc. publie ses résultats pour l’exercice clos le 31 décembre 2024

    Cryptocurrency

    US court sets Oct 6 trial date for Singaporean man in million-dollar cryptocurrency theft case

    Stock Market

    2 No-Brainer High-Yield Dividend Stocks to Buy With $1,000 Right Now

    Editors Picks

    From Ripple to Stellar and Beyond, a Visionary’s Journey

    July 13, 2024

    55-Year-Old Dividend Investor Earning $25,000 a Month Shares 7 Stock Picks, Calls Yield Chasing a ‘Terrible’ Mistake for Young Investors

    January 28, 2025

    Charter Hall, Hostplus to complete acquisition of Hotel Property Investments — Capital Brief

    February 16, 2025

    PFMcrypto Launches the Best Free Digital Asset Management Platform in 2025, Attracting Millions Worldwide

    May 5, 2025
    What's Hot

    La société de médias de Donald Trump pourrait lancer une cryptomonnaie

    April 30, 2025

    Moselle. L’explosion d’une poche de métal en fusion fait quatre blessés dans une fonderie

    April 17, 2025

    Green shoots for UK residential investment says globa…

    August 19, 2024
    Our Picks

    Bitcoin in 2025: Digital Gold for Uncertain Times?

    June 5, 2025

    Luxspin to Establish Innovation Lab in Global Financial Hub, Driving Digital Finance Technology Development

    August 8, 2024

    Indonesia’s OJK Unveils Roadmap for Fintech, Digital Asset Development

    August 12, 2024
    Weekly Top

    RBI e-rupee: How to use central bank digital currency

    June 22, 2025

    Cryptocurrency Live News & Updates : Profitable Bitcoin Short Position Closed

    June 22, 2025

    XAU/USD edges higher above $3,350 as Middle East conflict escalates

    June 22, 2025
    Editor's Pick

    How Munir Ja’afaru got huge payout from fintech deal

    August 10, 2024

    Transcript : Agricultural Bank of China Limited, 2024 Earnings Call, Mar 28, 2025

    March 28, 2025

    Man arrested after trying to steal copper piping from a Pueblo home

    October 25, 2024
    © 2025 Invest Intellect
    • Contact us
    • Privacy Policy
    • Terms and Conditions

    Type above and press Enter to search. Press Esc to cancel.