Our Chancellor, Rishi Sunak has said stamp duty will be abolished for homebuyers up to £500,000 in his Economic Announcement this afternoon. This is BIG
The Chancellor of the Exchequer, Philip Hammond released The Budget just moments ago. This is the last Budget before Brexit….. To make it easy for you we
Yorkshire Building Society have made a statement ahead of the spring budget calling for Stamp Duty to become a tax on sellers, not buyers. This is in an attempt to improve the situation for struggling first time buyers. The threshold on stamp duty was increased to £125,000 in 2006 to keep up with house price inflation and now nearly 75% of first time buyers pay stamp duty compared to just over 50% in 2006.
December last year saw a long overdue change to the stamp duty system which meant big savings for the average home buyer. Only those purchasing the most expensive homes were to be worse off.
Anyone buying an additional residential property or a buy to let within the UK will be liable to pay a 3% surcharge in Stamp Duty above that of a solo homeowner or first time buyer. This was announced in the Autumn statement by George Osborne and came in to affect from 1st April 2016.
Stamp Duty. The bane of many a buyer! It’s essentially a land tax, and it’s payable on all properties in the UK over a certain price. But from December last year we were offered some relief from the ever-escalating costs of buying a home, as stamp duty pricing changed.
At long last… George Osborne has said stamp duty will be cut for 98% of homebuyers in his Autumn Statement to the Commons.
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