STAMP DUTY GUIDE
4 March 2016
Time is ticking away and solicitors are already inundated with buyers wanting to complete before the proposed proposed rise in SDLT on April 1st 2016. The full anouncment will be made during the budget speech by the Chancellor on March 16th 2016 and there are already rumours concerning the 'excemptions', such as the number of properties you have to own before not having to pay, and the time limit to claim the tax back should you sell the '2nd property'.
Here is a guide to the extra it could cost should the plans come into force-
Pre-April 1st Post April 1st
£40,000 Nil Nil
£50,000 Nil £1500
£60,000 Nil £1800
£70,000 Nil £2100
£80,000 Nil £2400
£90,000 Nil £2700
£100,000 Nil £3000
£125,000 Nil £3750
£140,000 £300 £4500
£150,000 £500 £5000
£160,000 £700 £5500
£170,000 £900 £6000
£180,000 £1100 £6500
£190,000 £1300 £7000
£200,000 £1500 £7500
£250,000 £2500 £10,000
£300,000 £5000 £14,000