The Autumn Statement

Published on 4th Dec 2014

The Chancellor’s Autumn Statement announced a major reform to Stamp Duty Land Tax on residential property transactions. From 4 December, a new set of rates and rate bands will apply for these transactions. However, each rate will only be payable on the value which falls within each band. These changes do not apply to commercial or mixed transactions. As Philip Moss (head of property tax) reports, “whilst this reform raises rates at the top end, it makes SDLT fairer, and according to government figures ensures that SDLT will be cut for 98% of people who pay it”.

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* This article is current as of the date of its publication and does not necessarily reflect the present state of the law or relevant regulation.

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