If you haven't already heard, today the goverment has announced the following changes to the outdated Stamp Duty charges starting from midnight tonight, see this handy HMRC calculator here for new rates:
http://www.hmrc.gov.uk/tools/sdlt/land-property-results.htm?dates_Transaction=05%2F01%2F2015&moneyResidential=135000&moneyNonResidential=0
These new rates should hopefully save property investors a bit of money, depending on the price you're paying of course!
See governement web page here:
https://www.gov.uk/stamp-duty-land-tax-rates
Under the new reforms:
- No SDLT payable at all on properties up to £125,000
- The first £125,000 on properties to be free of SDLT
- Then payable at 2% payable on the portion up to £250,000
- Payable at 5% on the portion up to £925,000
- Payable at 10% on the portion up to £1.5m
- Then payable at 12% on the portion over that amount.
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