New Stamp Duty Rates Announced

4:49 pm | News,Uncategorized | 3rd December, 2014
Sheffield Estate Agents

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.

For more information on this please click here to open the Governments handy PDF guide to the whole process. There’s also a very useful Stamp Duty calculator available by clicking here.

Purchase price of property (£)New rates paid on the part of the property
price within each tax band
£0 to £125,0000%
£125,001 to £250,0002%
£250,001 to £925,0005%
£925,001 to £1,500,00010%
£1,500,001 and over12%

If you would to discuss this, or any other property matter, please contact us on 0114 2413430.