New Stamp Duty Rates July 2020
Stamp Duty Calculator
The Stamp Duty calculator can be found here
FAQ's....
How much stamp duty will I pay now?
If the property purchased is your main home you won't pay any stamp duty on it at all if it costs £500,000 or less.
The next portion of the property's price (£500,001 to £925,000) will be taxed at 5%, and the £575,000 after that (£925,001 to £1.5 million) will be taxed at 10%
The remaining amount (over £1.5 million) will be taxed at 12%. You can calculate how much you are liable to pay using the stamp duty calculator
Before the announcement, stamp duty in England and Northern Ireland was paid on land or property sold for £125,000 or more.
What about the First Time Buyer discount?
First-time buyers did not pay any stamp duty up to £300,000. But this stamp duty holiday replaces the first-time buyer discount.
What about Landlords and second home buyers?
They are also eligible for the tax cut but will still have to pay the extra 3% of stamp duty they were charged under the previous rules.
How long will the stamp duty holiday last?
It is effective immediately and will last until 31 March next year.
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Here for you…
Sales and general enquiries: hello@howard-homes.co.uk 0117 9238238
Lettings: cliftonlets@howard-homes.co.uk 0117 9466588
Property Management: cliftonmaintenance@howard-homes.co.uk
For further details of our services, policies and guidance during this time please visit our website www.howard-homes.co.uk