New Stamp Duty 2014

Londina
Londina Registered Posts: 794 Epic contributor 🐘
in Off-topic
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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  • Gem7321
    Gem7321 Registered Posts: 1,412 Beyond epic contributor 🧙‍♂️
    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
    Londina Registered Posts: 794 Epic contributor 🐘
    ah I see, it's now calculated like income tax! cheers

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