Sweeping changes to stamp duty were announced in the Chancellor’s Autumn Statement in December 2014. Stamp duty has been reformed – the slab system (where you’d pay a single rate on the ENTIRE property price) has been swept away, and in its place is a more progressive system.
Under the new system, you’ll only pay the rate for the proportion of the property that’s at that rate.
What stamp duty rate will I pay?
|
Purchase price
|
Stamp duty rate – on that portion of the price
| |
|---|---|---|
| Up to £125,000 |
0%
| |
| £125,000.01 – £250,000 |
2%
| |
| £675,000.01 – £925,000 |
5%
| |
| £925,000.01 – £1,500,000 |
10%
| |
| £1,500,000.01 + |
12%
| |
| Correct from October 2021 for UK ( Excluding Scotland )(Excluding Buy to Let) (Excluding Second Homes) | ||
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