lease see Hamptons International Research Document for Full Details. An excerpt from the report in summary:
The Chancellor has abolished the old slab structure of Stamp Duty. This is good news for the operation and efficiency of the overall housing market. The number of transactions are the real signal of the health of the housing market not the pace of growth of house prices. This move should help to increase transaction activity, allow people to move more easily and with a lower financial burden. This will help the labour market and the economy more widely too.
The new rates are:
- 0-£125K – 0%
- £125-250K – 2%
- £250- 925K – 5%
- £1.5m – 10%
- >£1.5m- 12%
These rates are only paid on the value of the property within the threshold ranges so a property valued at £200k for example only pays stamp duty on £75K at 2% rather than on the whole £200K under the old regime.