Stamp duty changes

December 4, 2014

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

Tags:

Please reload

Featured Posts

Coming to Rhos

April 25, 2019

1/10
Please reload

Recent Posts

April 25, 2019

Please reload

Follow Us
  • Facebook Basic Square
  • Twitter Basic Square

Site map

*Welsh speaker applies to Katie Baker

Resolution membership applies to Andrew Nelson

 

© 2014-2019 Nelsonmyatt - website created and maintained by Stephen Myatt

Nelson Myatt Solicitors LLP is a limited liability partnership registered in England and Wales with the registered number OC387685. 

A list of members names is available for inspection at our registered office at Suite 6, Conwy Business Centre, Llandudno Junction.

We use the word partner to refer to a member of Nelson Myatt Solicitors LLP, or an employee or consultant who is a lawyer or equivalent standing and qualification.

Nelson Myatt Solicitors LLP is authorised and regulated by the Solicitors Regulation Authority number 605461