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Valuation Office Agency. The Valuation Office Agency is a government body in England and Wales. It is an executive agency of His Majesty's Revenue and Customs . The agency values properties for the purpose of Council Tax and for non-domestic rates in England and Wales (in Scotland this function is performed by the Scottish Assessors ).
Rates in the United Kingdom. Rates are a tax on property in the United Kingdom used to fund local government. Business rates are collected throughout the United Kingdom. Domestic rates are collected in Northern Ireland and were collected in England and Wales before 1990 and in Scotland before 1989.
In the United Kingdom, the value added tax (VAT) [1] was introduced in 1973, replacing Purchase Tax, and is the third-largest source of government revenue, after income tax and National Insurance. It is administered and collected by HM Revenue and Customs, primarily through the Value Added Tax Act 1994 . VAT is levied on most goods and services ...
The UK House Price Index replaced this release in June 2016.[3] Historically, HM Land Registry also published a separate house price index calculated by Calnea Analytics. It used the HM Land Registry’s data, which consists of the transaction records of all residential property sales in England and Wales. It uses Repeat Sales Regression.
The government is also using the land registry data to assess property values for tax purposes. Offices. HM Land Registry has 14 offices at: Birkenhead, Coventry, Croydon, Durham, Fylde , Gloucester, Kingston upon Hull, Leicester, Nottingham, Peterborough, Plymouth, Swansea, Telford and Weymouth.
Real estate is a significant feature of the economy of the United Kingdom, and regulated according to Scottish and English land law. The real estate market in the United Kingdom is the largest or second-largest in Europe (after Germany) depending on the method of measurement. [1] [2] The commercial real estate market in the UK has a market size ...
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