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STAMP DUTY REVAMP ANNOUNCED

Posted on Wednesday, December 3, 2014

 

George Osbourne has announced stamp duty will be cut for 98% of homebuyers in his Autumn Statement to the Commons.

Under the new regime, no tax will be paid on the first £125,000 of a property, followed by 2% on the portion up to £250,000, 5% up to £925,000, 10% up to £1.5 million and 12 % on everything over that.

For example buying a house for £275,000 would have previously cost the purchaser £8250 in stamp duty but will now cost £3750.

More infomation to follow shortly.