UK is Fucked
Out of context: Reply #1429
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- shapesalad-9
Reasons to be a muslim in the UK - you can avoid stamp duty tax on your house.
https://www.gov.uk/government/pu…
"1. Introduction
The theological basis for Islamic finance stems partly from the traditional prohibition of usury or interest, which means that interest-based lending may not appeal to followers of Islam. Islamic finance products have been structured to avoid the payment of interest. These financial products have been developed so that they fall within the regulatory and legal framework of England and Wales and so introduce no new concept in HM Land Registry terms. They are available in the UK to Muslims and non-Muslims alike.
The three forms of contract are:
Ijara wa Iqtina
Diminishing Musharaka
MurabahaThis guide also discusses the emergence of the Islamic bond or sukuk market."
- and how is this a bad thing??? I'm off to the local Mosque to sign up!dee-dubs
- There are specific provisions in tax law for a Sharia compliant structure, such that there is no Stamp Duty Land Tax (SDLT) on the transfer from the...Morning_star
- ...financial institution to you as the purchaser, it's still payable on the share initially purchased.Morning_star
- Zoom out Morning_star...shapesalad
- How far?Morning_star
- Keep going.shapesalad