New Stamp Duty 2014
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Londina
Registered Posts: 794 Epic contributor 🐘
Treasury said that new Stamp Duty will bring some saving, but I don't really see it? It's now 5% for houses after £250,000, before it was 3%
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Hi Londina
It is now incremental. So previously if you purchased a house for over £250,000 it would cost 3% on the whole value. Now, you would pay 0% on the first £125,000 and I believe 2% on £125,000-£250,000 then 5% on the portion thereafter so it does produce quite a signifcant saving.2 -
ah I see, it's now calculated like income tax! cheers0
