Council Tax Rises Approved in Budget Proposals

As Ruddington residents brace ourselves for a sudden hike in our fuel costs this April, due to the higher new energy price cap set by Ofgem, at least there’s some better news from Nottinghamshire County Council (NCC) today. Whilst NCC’s share of our Council Tax is set to go up again in the next financial year, it will only be by around 1% – whereas this time last year its increase was an inflation-busting 3%!  The Budget proposals for 2022/23, approved at today’s Finance Committee meeting, will also see the ‘Adult…

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Update to Stamp Duty Thresholds

Reduced ‘stamp duty’ rates on residential properties from the 1st July will be an added bonus to so many prospective home buyers says Benwell Daykin. It means that if you buy a residential property between July 1st 2021 and September 30th 2021, you start to pay Stamp Duty Land Tax on the amount you pay above the threshold of £250,000. From October 1st 2021 the zero rate band will return to the standard amount of £125,000. The rates from the October 1st 2021 are: Up to £125,000 – Nil The next…

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Guaranteed Mortgage Scheme Begins

Following Benwell Daykin’s previous RUDDINGTON.info article in March, detailing the extension to the Stamp Duty Holiday and Guaranteed Mortgage scheme, they are now pleased to expand on this. From the start of this month, the government has provided guarantees to UK lenders who offer mortgages to buyers, to secure a loan with a 5% deposit on a property of up to £600,000 before the 31st December 2022. The UK’s top five banks have announced their support of the initiative and many will roll out their offers and initiatives from the 19th…

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Stamp Duty Holiday Extended & Guaranteed Mortgage Scheme

Following the budget announcement on March 3rd, that the Chancellor extended the Stamp Duty Holiday, what does this mean for Ruddington residents? Well, the property purchase tax has been suspended on the first £500,000 on any property purchase, meaning you have the opportunity to save thousands of pounds if you complete your purchase before June 30th 2021. Nick Aston, senior valuer at Benwell Daykin Estate Agents on High Street, welcomes the extension: “This is great news for home buyers in the Ruddington area” he says. “With their savings on stamp duty,…

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Nottinghamshire’s 2.99% Council Tax Rise

Just over a fortnight ago RUDDINGTON.info reported that Rushcliffe Borough Council (RBC) would raise its share of our Council Tax by 3.2% in the next financial year. However, there’s now been an even more significant announcement affecting village residents – that Nottinghamshire County Council (NCC) will hike up its share by almost 3% this April. The County Council’s portion – including its Adult Social care precept – accounts for around three quarters of our bill – dwarfing the amounts we must pay to RBC, Nottinghamshire Police, The Combined Fire Authority…

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Rushcliffe’s 3.2% Council Tax Rise

At a time when the Coronavirus pandemic means even more Ruddington families are struggling to make ends meet, Rushcliffe Borough Council (RBC) has announced it intends to increase its share of our Council Tax by 3.2% in the next financial year. This is despite the current UK inflation rate standing at just 0.6% and with most bank and building society interest rates for savers even lower than that. The hike proposed at the Cabinet Meeting last night (9th February 2021) would mean householders paying £147.36 for a typical ‘Band D’…

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Hike in Our Council Tax Likely

Nottinghamshire County Council (NCC) is defending its proposals to increase Council Tax by double the rate of inflation – blaming ongoing reductions in Government funding, combined with a spiralling demand for social care services. Councillor Richard Jackson, Chairman of its Finance and Major Contracts Committee, said: “We’ve made significant progress in reducing the budget deficit we inherited when taking office in 2017 but it is fair to say that making savings is getting tougher each year – and will continue to do so. Regrettably, it appears that we will have no choice…

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