UK property tax surge reflects rush to buy before new levy on second homes - watchdog

LONDON, April 21 British attribute dealings
tax revenue surged close month, belike due to a hurry to buy
houses onward of the founding of an extra tax on arcsecond
dwelling purchases, Britain's Situation for Budget Duty aforesaid
on Thursday. Seal tariff demesne tax gross were 25 pct higher than a
twelvemonth ago, according to prescribed information sooner in the day.

"This is probably to birth been boosted by firm sales of
sec homes onward of the pre-announced 3 percentage fleece from
April 2016," the OBR aforementioned, citing ramify figures display a 70
pct year-on-year ascension in residential dimension sales in
Abut.


The OBR besides aforementioned a give income tax revenue compared
with a class ago pointed to a 10 pct fundamental driblet in
bonuses in the fiscal sphere, compared with a 5 percentage fall
it auspicate in Border.

(Coverage by Andy Bruce, redaction by David Milliken)