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Changes To Stamp Duty – Great News For The BUY- To- LET Investor

Changes To Stamp Duty – Great News For The BUY- To- LET Investor

You’ll have seen the Chancellor’s announcement that Stamp Duty on property purchases changed from Mid-night on 3rd December. Gone is the old Slab Rate of tax and a much fairer system has been brought in to replace it. According to George Osborne, 98% of all buyers will see a benefit with a reduction in the tax paid on purchase.

Here’s the link to HMRC’s on-line calculator and here’s a few worked examples


Purchase Price   Stamp Duty Payable  Previously  Amount Saved

£135,000                    £200                    £1,350          £1,150

£150,000                    £500                    £1,500          £1,000

£165,000                    £800                    £1,650          £850

£175,000                    £1,000                 £1,750          £750

With every penny counting, this is great news. Look at it another way, a thousand pound savings will pay your solicitor’s fees.

Perhaps not in the run-up to Christmas but in the New Year, I would expect this to give some impetus to the currently moribund housing market which should give would be buy to let investors more choice of property.

Not often a Chancellor of the Exchequer gives something this valuable away – there must be a General election coming up!


Mike White

Martin & Co Norwich

01603 766860

December 2014