Stamp Duty

The Chancellor yesterday made some large changes in the way Stamp Duty will affect residential properties

Reform of residential property stamp duty so that rates apply only to that part of the property price that falls within each band

0% paid for the first £125,000 then 2% on the portion up to £250,000

5% up to £925,000, then 10% up to £1.5m; 12% on anything above that, saving £4,500 on average priced home

Changes to come into effect at midnight on Thursday, 4 December