After two years, the stamp duty ‘holiday’ is over for first time buyers on properties worth more than £125,000 – they will now have to pay the same tax as other buyers. For the full BBC Business News article, please click here
The current Stamp Duty thresholds are as follows:
1% properties of more than £125,000-£250,000
3% properties of more than £250,000-£500,000
4% properties of more than £500,000-£1,000,000
5% properties of more than £1,000,000 – £2,000,000 (residential property only )
7% properties of more than £2,000,000