If you followed The Budget announcements of last November (2017) you will have noticed that Stamp Duty Land Tax (SDLT) was the headline maker for Theresa May’s government.
For those of you who are unsure what Stamp Duty is, we covered all the major questions in our blog which can be accessed by clicking here.
Calculating Stamp Duty
If you know exactly what SDLT is but aren’t sure what the figure might be for your next property move then you’re in luck. HMRC have a handy tool called the SDLT Calculator, which is free to use for anyone curious.
It’s an easy-to-use tool direct from HMRC, which calculates the Stamp Duty for 4 key property-buying scenarios:
First Time Buyers (stamp duty exempt up to £300k) Second Time Buyers (normal stamp duty criteria applies) Second Time Buyers with more than one property but replacing their main residence Second Time Buyers buying a second property or BTL (not replacing their main residence)
Please note that this calculator is to be used as an indicator. For concrete figures we recommend talking to your estate agent and mortgage lender.
For more information feel free to contact our experienced team by clicking here.