What are the New Stamp Duty Rates? | AVRillo

What are the New Stamp Duty Rates?

Friday 10 July 2020  / 

The Government recently announced changes to the Stamp Duty Land Tax (SDLT) rates commonly being referred to by the media as a Stamp Duty Holiday.

These new Stamp Duty rates affect properties purchased between the 8th of July 2020 and the 31st of March 2021. The below rates apply for both First Time Buyers and if a client has owned a property before. Changes have also been made for Stamp Duty on purchases of additional properties.

These changes to Stamp Duty are intended to boost the UK property market. There is talk that conveyancers are not going to cope with a sudden influx of new properties being purchased. At AVRillo we are prepared, others may not be able to cope. If they can’t cope, you risk not getting paid.

Get ready to speak to your AVRillo lawyer on how to work with them better and faster during the booming months to come. Don’t risk missing out.

Stamp Duty Rates (for main home purchases only)

Property or lease premium or transfer valueSDLT Rate
Up to £500,000Zero
The next £425,000 (the portion from £500,001 to £925,000)5%
The next £575,000 (the portion from £925,001 to £1.5 million)10%
The remaining amount (the portion above £1.5 million)12%

Talk to AVRillo – We Get Clients Moving

AVRillo are an award winning nationwide conveyancing team with a 95% Completion rate on all property transactions. If you are looking for a conveyancer that can get your clients moving talk to AVRillo.

For more information, please contact us at clientservices@avrillo.co.uk or visit www.gov.uk.