Stamp Duty refund: Can you get a refund? What was Stamp Duty before?

HomeLife & Style

Stamp Duty refund: Can you get a refund? What was Stamp Duty before?

What was Stamp Duty before?As of July 8, the Government has increased the Stamp Duty threshold in England and Northern Ireland to property sales wo

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What was Stamp Duty before?

As of July 8, the Government has increased the Stamp Duty threshold in England and Northern Ireland to property sales worth up to £500,000.

This change will remain in effect until March 31, 2021, and means anyone completing a transaction during that time which does not exceed that limit, will not pay any stamp duty.

The move will also save buyers as much as £15,000 if they are buying a property of £500,000 or more.

The previous threshold amount was £125,000 or £300,000 for first-time buyers.

There are several rate bands for Stamp Duty.

The old rate saw a Stamp Duty price of £1,500 if you purchased a house worth £200,000.

If you purchased a house worth £400,000, your Stamp Duty rate would have been £10,000.



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