☔ THE STAMP DUTY HOLIDAY ENDS TODAY! ☔ Here's everything you need to know about the new rates 👍

➡ Today, the Stamp Duty Land Tax (SDLT) holiday will come to an end 🛑
➡ From tomorrow, SDLT rates return to normal as follows:

Up to £125,000 = £0
£125,001 to £250,000 = 2%
£250,001 to £925,000 = 5%
£925,001 to £1.5 million = 10%
Above £1.5 million = 12%

➡ Tax rates are higher for those buying a second home 🏡🏡
➡ You will pay more tax if you buy through a company 🏢
➡ Overseas buyers are subject to higher rates too 🌍
➡ Rightmove's online SDLT calculator is here: https://lnkd.in/dcaZ5uKp 🧮

🙋‍♀️ I’m about to buy a home for £300,000. How much SDLT will I pay?

0% on the first £125,000 = £0
2% on the next £125,000 = £2,500
5% on the final £50,000 = £2,500

SDLT payable = £5,000 💰

🙋‍♂️ Do First-time Buyers (FTBs) pay SDLT?

➡ If you’re an FTB, you won’t pay any tax on homes priced at or below £300,000 😊
➡ However, you will pay 5% between £300,001 and £500,000 💳
➡ If above £500,000, FTBs will not be eligible for a saving and will pay normal stamp duty rates! 🤦‍♂️

🔍 Article from RIGHTMOVE in full here: https://www.rightmove.co.uk/news/articles/property-news/stamp-duty-holiday-ends/ 

If you have any questions about these changes, please get in touch with our CAVENDISH EXPERTS 🦹‍♀️🦸‍♂️

☎📧🗨

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