News

See how much you’ll save with Stamp Duty changes

04/12/14

The chancellor in his Autumn Statement has made some radical changes to the way stamp duty is calculated.

This, in many cases, will result in a significant reduction in tax payable on any properties under £1 million.

In summary the new stamp duty rules are:

Up to £125,000 – no stamp duty payable
From £125,001 – £250,000 – stamp duty payable of 2% on the amount over £125,000
From £250,001 – £925,000 – stamp duty payable of 2% on the amount between £125,000 and £250,000 and 5% payable on the amount between £250,000 and £925,000.

In order to help you understand the difference this will make to your property or potential property purchase we have produced a simple calculator, which can be viewed using the button below.

Stamp Duty Calculator

 

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