New Stamp Duty Reforms Announced
December 3rd 2014
A drastic reform to stamp duty announced by George Osborne today will see the end of the hated slab-style system that hit buyers with huge bills for moving home. Stamp duty bands were radically rejigged in the Autumn Statement and it will now only be levied progressively above thresholds, in a similar way to how income tax works. Buyers at the top end will pay the price for the reform. Someone purchasing a £1million home will pay £43,750 instead of £40,000, but someone buying a £2,000,000 home will pay £153,750 rather than the current £100,000 levied just before the 7% threshold kicks in.
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New Stamp Duty Reforms Announced
December 3rd 2014
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A drastic reform to stamp duty announced by George Osborne today will see the end of the hated slab-style system that hit buyers with huge bills for moving home. Stamp duty bands were radically rejigged in the Autumn Statement and it will now only be levied progressively above thresholds, in a similar way to how income tax works. Buyers at the top end will pay the price for the reform. Someone purchasing a £1million home will pay £43,750 instead of £40,000, but someone buying a £2,000,000 home will pay £153,750 rather than the current £100,000 levied just before the 7% threshold kicks in.
New Stamp Duty Reforms Announced
December 3rd 2014
A drastic reform to stamp duty announced by George Osborne today will see the end of the hated slab-style system that hit buyers with huge bills for moving home. Stamp duty bands were radically rejigged in the Autumn Statement and it will now only be levied progressively above thresholds, in a similar way to how income tax works. Buyers at the top end will pay the price for the reform. Someone purchasing a £1million home will pay £43,750 instead of £40,000, but someone buying a £2,000,000 home will pay £153,750 rather than the current £100,000 levied just before the 7% threshold kicks in.
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