Overhaul of stamp duty – how will it affect you?
Stamp duty on house purchases has been reformed in Chancellor George Osborne’s Autumn Statement. With effect from midnight on Wednesday 3rd December, 98% of homeowners in England and Wales will pay less after the changes than they did under the previous system.
The new rates will be:-
- Up to £125,000 : 0%
- £125,001 to £250,000 : 2%
- £250,001 to £925,000 : 5%
- £925,001 to £1.5m : 10%
- Above £1.5m : 12%
Click the link below to calculate what this means for you:
http://www.hmrc.gov.uk/tools/sdlt/land-and-property.htm