Useful Information

Due to new data protection regulations, Wilman & Wilman have taken the necessary steps to ensure that our data infrastructure has been updated and can confirm that we are committed to protecting our clients information which will never be shared with any third parties.  The changes include full encryption of data which is also password protected on our computer network.

We have contacted clients who are registered on our mailing list to inform them of the new regulations and asked whether or not they would like to remain on our database.  If any clients are no longer receiving notifications and would still like to, could we please ask you to re-enter your search criteria in the tool on the bottom right hand corner of our website.

 

STAMP DUTY: (Residential Freehold sales and transfers)

Source: https://www.gov.uk/stamp-duty-land-tax/residential-property-rates

You can also use this table to work out the SDLT for the purchase price of a lease (the ‘lease premium’).

Property or lease premium or transfer value SDLT rate
Up to £125,000 Zero
The next £125,000 (the portion from £125,001 to £250,000) 2%
The next £675,000 (the portion from £250,001 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%

Example: If you buy a house for £275,000, the SDLT you owe is calculated as follows:

  • 0% on the first £125,000 = £0
  • 2% on the next £125,000 = £2,500
  • 5% on the final £25,000 = £1,250
  • Total SDLT = £3,750

Stamp Duty Land Tax rates for additional properties from 1 April 2016

Source: https://www.gov.uk/guidance/stamp-duty-land-tax-buying-an-additional-residential-property

Purchase price Rate
up to £125,000 3%
over £125,000 and up to £250,000 5%
over £250,000 and up to £925,000 8%
over £925,000 and up to £1.5 million 13%
over £1.5 million 15%

 

For regular updated property news please click on Rightmove's property blog below:

http://www.rightmove.co.uk/news/