Properties being marketed at levels close to Stamp Duty thresholds have been positively effected by the announcement today that buyers will now only pay the rates proportionate to the banding rather than the whole amount. At the same time, the bandings have been changed as follows:-
0% up to £125,000
2% up to £250,000
5% up to £925,000
10% up to £1.5m
12% above this
These new bandings come into effect at midnight 3rd December 2014.
For those looking at imminent purchases there is a handy calculator on the Governments website here :
