Changes in Stamp Duty could save you thousands

By 19th January 2015 Carr and Co News 683 Comments

Since the change in Stamp Duty thresholds on the 4th December 2014 we have seen most of our existing clients who are buying a residential property SAVING anything from £50.00 up to £5,500.00 alone with the recent changes.

With the new rates the tax payable is only on the portion of the total value which falls within each band (i.e. £125,001.00-£250,000.00).

The shake-up means that someone buying a family home with a typical price tag of £275,000 will save £4,500 compared with the previous rules.

Anyone buying a home for less than £937,500 will either pay less stamp duty or the same amount under the new rules, the Treasury said.

If you are interested in seeing what you could save under the new rules if you are looking to buy a new home, a second home or even an investment buy to let property over the price of £125,000.00 then please use the following link for details:

http://www.hmrc.gov.uk/tools/sdlt/land-and-property.htm

If you are requiring any further information on this then please do not hesitate to contact a member of our conveyancing department at our Gosforth branch 0191 2840363 and our Blyth branch 01670 351251 who will be happy to help.