Individual #property ivestors who have been held back with their portfolio building in the #UK by government taxation policy will be happy to hear the news from the newly appointed Chancellor of the Exchequer in his recent UK budget annoucement areound #stampDuty.
Prior to September 23rd 2022, the residential buyer banding for purchase prices were set at:
Up to £125,000 | 0% |
Between £125,001 and £250,000 | 2% |
Between £250,001 and £925,000 | 5% |
Between £925,001 and £1.5 million | 10% |
Over £1.5 million | 12% |
With Kwasi Kwarteng's budget changes, #residential #buyers will see the bottom £125k rate evaporate, meaning that #SDLT will now kick in over £250,000;
Up to £250,000 | 0% |
Between £250,001 and £925,000 | 5% |
Between £925,001 and £1.5 million | 10% |
Over £1.5 million | 12% |
No good news unfortunately for corporation #investors however, who remain required to pay a +3% on the original bands based on the rates prior to Sep 23rd of:
Up to £40,000 | 0% |
Up to £125,000 (cost > 40k | 3% |
Between £125,001 and £250,000 | 5% |
Between £250,001 and £925,000 | 8% |
Between £925,001 and £1.5 million | 13% |
Over £1.5 million | 15% |
Use this HRMC calculator to figure out your SDLT liability for purchases.
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