Stamp Duty Brackets

[maserati3200gt]

Does anyone know what the stamp duty brackets are for properties between 500,000 to 600,000 ?

Many Thanks

[baskey]

maserati3200gt said:

Does anyone know what the stamp duty brackets are for properties between 500,000 to 600,000 ? Many Thanks

I wish I was in that position..!

It's just >£500k 4% isn't it..?

[hustlebabe]

maserati3200gt said:

Does anyone know what the stamp duty brackets are for properties between 500,000 to 600,000 ? Many Thanks

Too frigging much

split it into units of £120,000 each - then no stamp duty to pay

[hustlebabe]

Inland Revenue web site very useful on all of this.

[baskey]

www.direct.gov.uk/MoneyTaxAndBenefits/Taxes/BeginnersGuideToTax/BeginnersGuideToTaxArticles/fs/en?CONTENT_ID=10010529&chk=5VuatH

Residential property - purchase price Rate of Stamp Duty Land Tax
up to £120,000 0%
£120,001 - £250,000 1%
£250,001 - £500,000 3%
£500,001 or more 4%

[knight]

Yep 4% for over 500k, a friend of a friend is going to have to pay £240,000 in stamp duty!

[maserati3200gt]

Many Thanks for the replies.

[maserati3200gt]

knight said:

Yep 4% for over 500k, a friend of a friend is going to have to pay £240,000 in stamp duty!

Ouch !

[knight]

maserati3200gt said:

knight said: Yep 4% for over 500k, a friend of a friend is going to have to pay £240,000 in stamp duty! Ouch !

Ouch indeed!


Saying that I'd like to be in a position to pay that for a house

[mybrainhurts]

Institutional Theft.....