IMPORtANT
**PLEASE NOTE**
Stamp Duty Land Tax is due to change on 1st April 2025.
For first time buyers - The nil rate threshold which is currently £425,000 will revert to the previous level of £300,000. If you are purchasing a property above this amount you will be liable to pay tax on this amount from 1st April 2025.
If you have previously owned a property, the nil rate threshold will revert to £125,000.00 on 1st April 2025 rather than £250,000.00.
For purchases liable for the higher rate of stamp duty, since 31st October 2024 this has now increased to 5% above the standard rates for residential property purchases.
Please note, we are not tax advisors, and it is your responsibility to ensure you are paying the correct amount of Stamp Duty Land Tax. If you have been provided with a quote prior to 1st April 2025 and completion takes place after 1st April 2025, you will be liable for the new rate.
