29/09/2022
Our new Chancellor recently announced changes to Stamp Duty Land Tax. If you are buying a new home, how will the changes affect you?
Effective from 23rd September:
* SDLT was cut by doubling the level at which you begin paying, from £125,000 to £250,000.
* The above will reduce stamp duty bills for all movers by up to £2,500.
* The level at which first-time-buyers start paying stamp duty has increased from £300,000 to £425,000.
* Ceiling price for first-time-buyers accessing the relief has increased from £500,000 to £625,000.
* The above means first-time-buyers are now able to access up to £8,750 in relief.
If you are considering a move and would like a no-obligation quote for conveyancing fees, do contact Brooks & Partners on 01276 681217.