The decision on the new stamp duty did literally come over night and our Chelsea office has been busy answering questions on the effects of this change for real estate buyers in London. Here, we would like to give you a short overview of the new regulation:
- Nil SDLTL payable at all on properties up to £125,000
- The first £125,000 on properties to be free of SDLT
- Then payable at 2% on the portion up to £250,000
- Payable at 5% on the portion up to £925,000
- Payable at 10% on the portion up to £1.5m
- Then payable at 12% on the portion over that amount
If you have any further questions give us a call (+44(0)2075841100) or contact us via email (Chelsea@engelvoelkers.com). We will be happy to provide you with answers!