• Rachael Panteney

Stamp duty holidays...



WHAT IS STAMP DUTY?


Stamp Duty Land Tax (SDLT) is a tax on properties bought in England and Northern Ireland.


Usually, you’ll need to pay it when you buy a residential property that costs more than £125,000.


The stamp duty holiday has increased the threshold to £500,000 until 31/3/2021 - so if you buy a home before this date you'll benefit.


If you are buying an additional property, such as a buy to let or second home costing more that £40,000, you'd still need to pay a 3% charge.


First-time buyers From 1 April 2021, you wont have to pay stamp duty on properties valued under £500,000 as long as you, and anyone else you’re buying with, are first-time buyers.


To find out what stamp duty you’ll pay, visit the calculator at the Money Advice Service:

https://www.moneyadviceservice.org.uk/en/tools/house-buying/stamp-duty-calculator

Rachael Panteney

Financial Adviser

Willow Tree Financial Services

01323 436680

rachael@willowtree-fs.co.uk