Stamp Duty Land Tax reform

In the final Autumn Statement before the general election next year, the Chancellor, George Osborne has announced an overhaul of Stamp Duty Land Tax (SDLT). At present, stamp duty is calculated as a percentage of the whole property with an increased rate triggered by being only a pound over the relevant threshold. The new measures introduced with effect from 4 December 2014 fundamentally change the way in which SDLT rates will be applied to the purchase price of properties. The new stamp duty rate will be calculated as follows: 1.…

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