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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        

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