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Stamp Duty Calculator

As of midnight December 4th 2014, chancellor George Osborne made changes to the stamp duty land tax, which means a reduction in cost for 98% of us, only the highest value property purchasers will pay more.

The old system meant you paid a fixed percentage on the whole amount, whereas the new system is tapered;

  • No Tax on the first £125,000- 2% £125,001 - £250,000
  • 5% £250,001 - £925,000
  • 10% £925,001 - £1.5million
  • 12% on any amount over £1.5million

With the old system someone buying a property for £200,000 would have paid 1% on the whole amount (£2,000), with the new system you pay no tax on the first £125,000 and 2% on the remaining £75,000 (£1500) meaning a saving of £500. Generally it's good news for the majority and it will certainly help first time buyers get on the property ladder, but how does it effect us locally.

Purchase price £ 350,000

Total Stamp Duty Land Tax (SDLT) due £ 7,500

This is a breakdown of how the total amount of SDLT was calculated.

Purchase price bands (£)Percentage rate (%)SDLT due (£)
Up to 125,000 0 £ 0
Above 125,000 and up to 250,000 2 £ 2,500
Above 250,000 and up to 925,000 5 £5,000
Above 925,000 and up to 1,500,000 10 £0
Above 1,500,000+ 12> £ 0

Total SDLT due £7,500

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