McHale & Co. Solicitors Blog



What you need to know:

1. Stamp Duty will be effectively cut for 98% of buyers.

2. The change takes place at Midnight tonight.

3. The new rates are

  • No tax up to purchase price of £225K
  • 2% on portion up to £250k
  • 5% up to £925k
  • 10% up to £1.5m
  • 12% on everything over £1.5m

4. If you have exchanged contracts but not yet completed-the new regime will apply to you (if you want it to).

5. If you are buying a very expensive house-exchange today!

Categories: Conveyancing

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