New Stamp Duty 2014

Londina

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%

Gem7321

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.

Londina

ah I see, it's now calculated like income tax! cheers