The big news in the Autum Statement was the change to Stamp Duty.
• No stamp duty will be paid on the first £125,000 of a property
• 2% will be paid on the portion up to £250,000
• 5% is paid for the portion up to £925,000
• 10% is paid on the portion up to £1.5m
• 12% is paid on anything above that
HMRC have a handy new calculator, here is link
http://www.hmrc.gov.uk/tools/sdlt/land-and-property.htm
There are also more details at https://www.gov.uk/government/publications/rates-and-allowances-stamp-duty-land-tax/rates-and-allowances-stamp-duty-land-tax
98% of all buyers will pay less tax under the new system
Will this lead to big increases in property values?
steve@bicknells.net
