Big Stamp Duty Savings
From 17th March 2016, Stamp Duty Rates on commercial and mixed use property purchases will be overhauled as follows:
| Purchase Price | Stamp Duty Rate |
|---|---|
| Up to £150,000 | Zero |
| The Next £100,000 (the portion from £150,001 to £250,000) | 2% |
| The remaining amount (the portion above £250,000) | 5% |
This means on purchases below £1,050,000 there will be Stamp Duty savings, especially on purchases between £250,000 and £500,000. For example:
| Purchase Price | Old Stamp Duty | New Stamp Duty | Saving | £275,000 | £8,250 | £3,250 | £5,000 |
|---|---|---|---|
| £400,000 | £12,000 | £9,500 | £2,500 |
These savings may increase demand for commercial or mixed use property, particularly at the £250,000 to £500,000 range. If you are now thinking of selling your commercial or mixed use property please Click here for a Free Auction Appraisal.