Save on Stamp Duty when you buy your new David Wilson home
Stamp Duty holiday for home buyers. The changes mean if you buy a home up to the value of £500,000, you won’t need to pay any Stamp Duty, and even if you are buying a property over £500,000, you will make a saving. So now could be a great time to buy your new home.
How do the changes impact me?
Stamp Duty is the tax charged by the Government when you buy a home. Following the Government announcement in England no Stamp Duty is payable on homes up to £500,000. For homes over £500,000 you could save £15,000.
Stamp Duty in Scotland is referred to as the Land and Buildings Transaction Tax (LBTT) and is charged when you buy a home of more than £250,000.
See more detail on LBTT (Scotland)
Stamp Duty in Wales is referred to as the Land Transaction Tax (LTT) and is charged when you buy a home of more than £250,000.
How much is Stamp Duty?
For homes over £500,000 there is still no Stamp Duty to pay on the first £500,000, then the following rates apply:
|
Purchase Price |
Stamp Duty % |
|
£0 to £500,000 |
0% (Zero) |
|
£500,001 to £925,000 |
5% |
|
£925,001 to £1,500,000 |
10% |
|
Over £1,500,000 |
12% |
Discover Your Stamp Duty Savings
Enter your details into our updated Stamp Duty Calculator to discover how much Stamp Duty you’ll have to pay when you buy a home between now and 31st March 2021.
As well as this, you’ll also discover how much you will save based upon the previous Stamp Duty taxes if you were to purchase before the tax break ends.
What if I am an investor or own more than one property?
If you are buying an investment property or an additional home, the following rates will apply to your purchase:
|
Purchase Price |
Stamp Duty % |
|
£0 to £500,000 |
3% |
|
£500,001 to £925,000 |
8% |
|
£925,001 to £1,500,000 |
13% |
|
Over £1,500,000 |
15% |
