Stamp Duty Set To Increase
9th March 2016
Buy To Let Stamp Duty Land Tax from 1st April 2016 will be increased as follows:
Stamp Duty is charged at the above rates for each band of value. Example, a purchase from 1st April 2016 of £225,000 would result in 3% Stamp Duty of £3,750 on the first £125,000 and £5,000 on the next £100,000 making a total of £8,750 which equates to 3.778% Stamp Duty in total. On the present basis, which ends on 31.03.2016, the Stamp Duty would have been £2,000.00.
Property’s purchased for less than £40,000 do not pay Stamp Duty.