SDLT CHANGES

Created on 04/12/14 by NICMOORE

During the Autumn Statement, Chancellor George Osborne announced that the Stamp Duty Land Tax will change, describing the system as a “badly designed tax on aspiration.”

Until now home buyers have paid Stamp Duty Land Tax (SDLT) on the entire purchase price of the residential property. With the new reforms a progressive structure has been put in place, similar to income tax, which Osborne says will benefit 98% of home purchasers, a tax cut worth £800m a year.

Anyone buying a house that costs between £125,001 and £937,500 will be paying less stamp duty, under the reforms, or the same amount.

From 4th December 2014, the new reforms are:

Find out how much your Stamp Duty Land Tax is under the new reforms with HM Revenue & Customs free online SDLT calculator


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