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Wurzel Of Highbridge

Stamp Duty.

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Stamp duty is very high for those high end London properties. Is this having any effect? I think the stamp duty here in Ireland is 1%. :unsure:


Residential land or property SDLT rates and thresholds

SDLT rates

Up to £125,000 - Zero

Over £125,000 to £250,000 - 1%

Over £250,000 to £500,000 - 3%

Over £500,000 to £1 million - 4%

Over £1 million to £2 million - 5%

Over £2 million from 22 March 2012 - 7%

Over £2 million (purchased by certain persons including corporate bodies) from 21 March 2012 - 15%

If the value is above the payment threshold, SDLT is charged at the appropriate rate on the whole of the amount paid. For example, a house bought for £130,000 is charged at 1 per cent, so £1,300 must be paid in SDLT. A house bought for £350,000 is charged at 3 per cent, so SDLT of £10,500 is payable.

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I'm amazed anyone pays the 3% or more. It's just pissing money away.

Friends of mine paid the equivalent of 18 months of my rent in stamp duty, 3% band.

And they say renting is dead money? People only pay it because they expect it back in HPI.

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