Stamp duty changes


Stamp duty payable on residential properties changed with effect from today (4th December 2014). Those that are currently in the process of buying a property are able to choose which of the two scemes is most beneficial to them.

Our fees calculator will soon be updated to show the new rates

New rates

Under the new rules, tax will be charged at a marginal rate on each slice of the consideration for a transaction:

  • 0% on any amount up to £125,000

  • 2% on any amount over £125,000 up to £250,000

  • 5% on any amount over £250,000 up to £925,000

  • 10% on any amount over £925,000 up to £1,500,000

  • 12% on any amount over £1,500,000

Heres some examples of the difference in stamp duty payable

Purchase price before 4/12/14 After 4/12/14

150,000 1,500 500

200,000 2,000 1,500

250,000 2,500 2,500

275,000 8,250 3,750

300,000 9,000 5,000

350,000 10,500 7,500

400,000 12,000 10,000

450,000 13,500 12,500

500,000 15,000 15,000

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