6th January, 2018 by Bradleys Countrywide

Stamp Duty

Are you aware of the new stamp duty (SDLT) brought in last year when buying a property?

  • Up to £125,000 = Zero
  • The next £125,000 (the portion from £125,001 to £250,000) = 2%
  • The next £675,000 (the portion from £250,001 to £925,000) = 5%
  • The next £575,000 (the portion from £925,001 to £1.5 million) = 10%
  • The remaining amount (the portion above £1.5 million) = 12%

Example If you buy a house for £275,000, the SDLT you owe is calculated as follows:

  • 0% on the first £125,000 = £0
  • 2% on the next £125,000 = £2,500
  • 5% on the final £25,000 = £1,250
  • Total SDLT = £3,750

Visit https://www.gov.uk/stamp-duty-la…/residential-property-rates for further infomation

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Are you aware of the new stamp duty (SDLT) brought in last year when buying a property?