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Stamp Duty Holiday… But What Does It Mean?
Posted on Wednesday 21st October 2020
Who will benefit from the stamp duty holiday?
From today (8th July) until 31st March 2021, the treasury will lift the threshold at which point people would have to pay tax on purchase from £125,000 to £500,000. Accordingly, there will now be no stamp duty payable on house purchases up to £500,000.
On a house purchase at £500,000 it would save buyers £15,000, making it a very attractive incentive for buyers.
What were the previous stamp duty levels?
There was no tax on houses worth up to £125,000, anything between that and £250,000 paid 2 per cent of the value of the property.
Purchasers paid 5 per cent on properties between £250,001 and £925,000 and 10 per cent on houses worth £925,001 and £1.5m.
For more information or for advice, please contact our offices:
South Belfast Office
Holywood Office
East Belfast Office
Newtownards Office
Posted on Wednesday 18th March 2020
COVID-19 OUR APPROACH
Simon Brien Residential are open for business.
Posted on Thursday 23rd January 2020
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NI House Price Index - House prices increased by 4%.
Northern Ireland's housing market continues to show resilience in the face of uncertainty, according to results of the RICS and Ulster Bank Northern Ireland Residential Market Survey for October.
