See how much you’ll save with Stamp Duty changes
The chancellor in his Autumn Statement has made some radical changes to the way stamp duty is calculated.
This, in many cases, will result in a significant reduction in tax payable on any properties under £1 million.
In summary the new stamp duty rules are:
Up to £125,000 – no stamp duty payable
From £125,001 – £250,000 – stamp duty payable of 2% on the amount over £125,000
From £250,001 – £925,000 – stamp duty payable of 2% on the amount between £125,000 and £250,000 and 5% payable on the amount between £250,000 and £925,000.
In order to help you understand the difference this will make to your property or potential property purchase we have produced a simple calculator, which can be viewed using the button below.