Wednesday, December 10th, 2014
The stamp duty rates you pay when buying a property vary from 0% to 12%, depending on the value of the property are now tiered. Many properties have struggled to break the previous £250,000 and £500,000 bands due to the huge leap in tax but now the tax payable is much fairer these properties may creep up in value.
As of 4 December 2014, stamp duty rates are changing - and the amount you pay will be tiered, like income tax.
In simple terms, you won't pay any stamp duty on the first £125,000. You'll then pay 2% on the portion up to £250,000, and 5% on the portion up to £925,000. Between that point and £1.5 million, it's 10% -… view more »