Stamp Duty and What It Now Means

In the last quarter of 2014 the Chancellor of the Exchequer George Osborne delivered his Autumn Statement. He announced that the Stamp Duty Land Tax was changing from a single percentage of the property price to a system where Stamp Duty is charged at different rates depending on the portion of the purchase price that falls into each rate band.

 Those purchasing property below £938,000 will pay less stamp duty under the new system. A strange quirk in the system also means those purchasing property between £1,001,000 and £1,124,000 will also be better off.

If you have any questions about the stamp duty changes please contact us on 020 7328 2828 or by emailing myself on alan@queensparkpartnership.co.uk

 

Alan Isaacs MNAEA MARLA

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