Before 2014 a 'slab structure' was in place with buyers paying a rate based on the ENTIRE property purchase price. The new rates are now payable only on the PORTION of a property price which falls within each band. As with every tax, there are those who will be better and worse off compared to the previous system. Now from April 1st 2016 a new additional charge of 3% of SDLT on purchases of additional residential property above £40,000 will apply this will affect buy-to-let properties and second homes. For example the nil rate band will increase to 3% and the top slice of SDLT will increase to 15%.
The calculator below will enable you to determine what Stamp Duty will now be payable on your property purchase with and without the additional tax levied on properties that are being purchased either under a buy-to-let scheme or as a second home.
Enter the estimated value of your purchase below and click Calculate.
If you wish to see what effect the additional 3% rate would have, click the check-box and re-calculate.
Stamp Duty Currently due:
Stamp Duty Currently due with additional 3%:
Posted on Monday, August 14, 2017
Latest figures from the house price index published by LSL Property Services show that the Midlands is the only region to see an increase in both house prices and in the number of houses being bought and sold.
Posted on Tuesday, August 8, 2017
With school summer holidays well and truly underway the thoughts of many parents may well be turning to the start of a new school year in September … and quite possibly to a move to a brand new family home as well. The most popular time to move in to a new property according to the Shortland Horne team is, not surprisingly, during the summer months, with August in number one position, closely followed by July.
Posted on Friday, July 28, 2017
With one in four households predicted to be living in rented accommodation by 2021 there is a growing acknowledgement of the importance of good relations between landlords and tenants. Managing incoming and outgoing tenants and ensuring that a good inventory is kept to key to success.