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?
Stamp duty rate – on that portion of the price
|Up to £125,000|
|£125,000.01 – £250,000|
|£250,000.01 – £925,000|
|£925,000.01 – £1,500,000|
|Correct from 4 December 2014 for UK ( Excluding Scotland )(Excluding Buy to Let) (Excluding Second Homes)|
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