Stamp Duty reforms to give 2015 the boost it needs

For residential properties, stamp duty has often been an issue; but thanks to new laws that came in on 4 December 2014, it will now be cut for 98% of people who pay it[1].

This has led to widespread optimism that these new laws will encourage people to buy their property. Conveyancing firm myhomemove completed more than 41,000 cases last year (more than any other UK law firm[2]), and if the optimists are to believed, that number should rocket in 2015.

While the stamp duty reform is great news for buyers, we are still waiting for the laws to have a noticeable effect on the UK property market[3]. Given at it has casino only been in place a month, at Mansons, we’re fairly confident that it will make a difference Just click over to Jordan middle school using the tab at the top, the online school calendar is located on the left hand side of the main page. to how people view joining the property ladder.

A graph below fully explains how the stamp duty reform will change how the taxing works from gov.uk:

And if you want to see how much you will pay on your property click here for a stamp duty calculator: http://www.hmrc.gov.uk/tools/sdlt/land-and-property.htm 

[1] “Stamp duty reforms on residential property”: https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/382324/Stamp_Duty_15.pdf

[2] “‘It’s looking good for 2015 after Stamp Duty reforms’ says conveyancing firm”: http://www.propertyindustryeye.com/looking-good-2015-stamp-duty-reforms-says-conveyancing-firm/

[3] “Stamp duty reforms yet to be felt in UK property market”: http://www.ft.com/cms/s/0/51df649a-9bda-11e4-b6cc-00144feabdc0.html#axzz3OzjtZJgZ<