Last Updated: 11/12/2014
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Stamp Duty Land Tax
George Osborne has announced a fairer stamp duty system replacing what he labelled ‘badly designed’ rules, claiming 98% of buyers would pay less under the new scheme.
Stamp duty land tax has to be paid on most purchases of houses, flats and other land and buildings. Buyers pay a fixed percentage on the previous price based on the figures within the attached table.
These changes are effective from Thursday 4th December 2014.
These changes do not mean there is a sudden hike in stamp duty as you pay the difference between thresholds.
However, there will be higher costs on any property transaction over £937,000.
With a significant amount of transactions in Central London being over £937,000 we will have to wait and see what effect this has on the Central London market.
Stamp duty land tax has to be paid on most purchases of houses, flats and other land and buildings. Buyers pay a fixed percentage on the previous price based on the figures within the attached table.
These changes are effective from Thursday 4th December 2014.
These changes do not mean there is a sudden hike in stamp duty as you pay the difference between thresholds.
However, there will be higher costs on any property transaction over £937,000.
With a significant amount of transactions in Central London being over £937,000 we will have to wait and see what effect this has on the Central London market.
