Are you and everyone involved in the property purchase, considered to be first time buyers?
Stamp Duty Changes - First time buyers purchasing a property up to the value of £500,000 are entitled to reduced rates.
If you are a first time buyer and you are purchasing a property for MORE THAN £500,000, then you will NOT be entitled to the discounted SDLT rates. The standard SDLT rates will apply to your purchase.
Is this residential property purchase a second home, an additional property, or a buy to let property?
Stamp Duty Changes - From 1st April 2016, anyone purchasing an additional home or a buy to let property that is more than £40,000, will have to pay an additional 3% on top of each stamp duty band.
Based on a purchase price of £0. Your total stamp duty liability tax would be:
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