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Regular articles on industry changes by our team.

Changes to Stamp Duty

Monday, December 08, 2014

In his Autumn Statement, Chancellor George Osborne revamped  stamp duty that will see the levy being cut for 98% of homebuyers, and made changes that will enable partners to inherit a deceased spouse’s Isa.

The impending stamp duty reform

Outlining the measures in his Autumn Statement, Osborne said the stamp duty reforms, which come into force from midnight, will mean new marginal rates for the tax. They comprise no tax on the first £125,000 paid by homebuyers; 2% on the portion up to £250,000; 5% up to £925,000; 10% up to £1.5m and 12% on everything over that.

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