New Stamp Duty Rates Announced
The Government has just announced a change in the Stamp Duty rates as of 4th December 2014 that will save money for around 98% of hombuyers this Autumn.
For example; someone purchasing a £185,000 property will now pay £1200 as opposed to £1850 under the previous rates. A saving of £650.
Our quick guide below clearly shows the new rates and how each one applies to the five property price bandings.
|Purchase price of property (£)||New rates paid on the part of the property
price within each tax band
|£0 to £125,000||0%|
|£125,001 to £250,000||2%|
|£250,001 to £925,000||5%|
|£925,001 to £1,500,000||10%|
|£1,500,001 and over||12%|
If you would to discuss this, or any other property matter, please contact us on 0114 2413430.