The registered owner of a property is liable for an annual
tax, based on the value of the property.
Value CY£ Annual tax £s per thousand
Up to 100,000 Exempt
100,001 to 250,000 2,0
250,001 to 500,000 3,0
over 500,001 3,5
However, the charges are based on the current market value
of the property as January 1980. In practice therefore, this
means that you are unlikely to be liable for much tax as
the law stands at present.
You will need to take out full house and contents insurance
on your property, once you have taken possession of it. There
are many schemes available. As a guideline, you should anticipate
paying CYP1 and CYP2 per thousand pounds insured.
We can recommend brokers to look after all your insurance
requirements including health care.
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