| The chancellor announced that no Stamp Duty Land Tax will be payable for first time buyers who purchase residential properties up to £250,000 between 25th March 2010 and 24th March 2012. A new Stamp Duty Land Tax rate of 5% on residential property sales over £1 million is to be introduced fromApril 2011.
Stamp Duty & Stamp Duty Land Tax
Shares - Up to £1,000 exempt Over £1,000 - 0.5%
Land & Buildings
Rate Residential in Disadvantaged Areas
Nil £0 - £150,000 1% £150,001 - £250,000* 3% £250,001 - £500,000 4% More than £500,000
Rate Residential Outside or Mixed
Nil £0 - £125,000 1% £125,001 - £250,000* 3% £250,001 - £500,000 4% More than £500,000
Rate Non-Residential
Nil £0 - £150,000 1% £150,001 - £250,000 3% £250,001 - £500,000 4% More than £500,000
** First time buyers can claim relief from Stamp Duty Land Tax on residential transactions up to £250,000 between 25/03/2001 and 24/03/2012.** |
