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Stamp Duty Land Tax Threshold for 2011

Stamp duty tax was introduced in December 2003 and is the percentage paid on a bought home (including apartments or flats). In 2010, the band for stamp duty was changed and recent additions have changed specifics of stamp duty tax threshold again in 2011. Stamp duty is paid on the whole value of the property so the amount you pay is dependant on the value of your home. The current stamp duty threshold for 2011 is:

 

First Time Buyers Stamp Duty Threshold (2011)

Up to £250,000 - 0% SDLT (Actual Cost: £0)

Over £250,000 to £500,000 - 3% SDLT (Actual Cost: £7,500 - £15,000)

Over £500,000 to £1,000,000 - 4% SDLT (Actual Cost: £20,000 - £40,000)

Over £1,000,000 - 5% SDLT (Actual Cost: £50,000+)

 

Note that the stamp duty threshold for first time buyers is only applicable from 24th March 2010 to 24th March 2011. The 5% stamp duty tax threshold for properties valued over £1,000,000 comes into effect from April 2011.

 

Previous Owners Stamp Duty Threshold (2011)

Up to £125,000 - 0% SDLT (Actual Cost: £0)

Over £125,000 to £250,000 - 1% SDLT (Actual Cost: £1,250 - £2,500)

Over £250,000 to £500,000 - 3% SDLT (Actual Cost: £7,500 - £15,000)

Over £500,000 to £1,000,000 - 4% SDLT (Actual Cost: £20,000 - £40,000)

Over £1,000,000 - 5% SDLT (Actual Cost: £50,000+)

 

Note that the stamp duty threshold for £125,000 is only effective from January 2010 and the threshold for properties over £1,000,000 is only effective from April 2011.

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