Stamp duty news update
The Stamp Duty holiday ends on 31st December 2009. If you're buying a property and you complete on it in 2010 with a purchase price over £125,000 and under £250,000 you will pay 1% tax on the purchase price. Up to the end of December 2009 everything up to £175,000 is tax free, so don't delay on your move, complete before the New Year and save hundreds of pounds!
| Residential property - purchase price | Rate of Stamp Duty Land Tax |
|---|---|
| up to £175,000 (until 31 December 2009 inclusive) | 0% |
| £175,001 - £250,000 | 1% |
| £250,001 - £500,000 | 3% |
| £500,001 or more | 4% |
Property in disadvantaged areas
Properties bought in areas designated by the government as ‘disadvantaged’ have historically qualified for Disadvantaged Area Relief with a threshold of £150,000.
For more information on Stamp Duty visit - www.hmrc.gov.uk/so/rates/