When looking to move home you may feel overwhelmed with all of the information and legal jargon you need to understand. The Stamp Duty guidelines have changed dramatically over the last year following the Chancellor’s Autumn Statement in December 2014.
To make the system clear we have laid out the facts for you…
Stamp Duty Land Tax is charged on land or property transactions in the UK. This tax ONLY applies to the buyer and NOT the seller. There are varying thresholds as follows:
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
For further information on Stamp Duty, please call your local Naylor Powell branch.
Estate Agents l Letting Agents l Property Managers
Gloucester l Newent l Stonehouse
Selling or renting your home can be stressful experience, but with clever technology and expert help from your agent, it can be made much easier. Together with...
Steeped in history, culturally diverse, with some incredibly innovative development projects underway, Gloucester is a popular place to live – with favourable...
Rishi Suhnak has confirmed that the stamp duty holiday will be extended until the end of September 2021. No stamp will be charged up to £500,000 until the end...