The Chancellor announced in the 2014 Autumn Statement an overhaul of the stamp duty rates. Its aim was to cut the rate of stamp duty tax for 98% of house purchases, while raising money from those buying the most expensive homes.
This will cost the public purse £800 million and for the average priced house of £275,000 result in a £4,500 cut in tax (£3,750 down from £8,250).
Although the HMRC site has updated its SDLT online calculator, we thought it would be useful to show these changes more visually across the range of typical house prices as quick reference. See below for quick reference charts.
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