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Stamp Duty Holiday… But What Does It Mean?
Posted on Wednesday 14th April 2021
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 Tuesday 1st December 2020
Location, Location… Relocation?
Northern Ireland’s property market sees +150% increase in the number of overseas buyers since June
Posted on Tuesday 24th November 2020
£82.5m of new homes in Lisburn and Hillsborough is shot in the arm for local construction jobs and suppliers
One of Northern Ireland’s premier home builders, Porter&Co, has commenced construction on the £22.5m development Governors Gate Demesne in Hillsborough, which includes 70 new homes and a major £60m development in Lisburn – Charlestown Hall – extending to 250 homes over a 6 year period.
Posted on Wednesday 18th March 2020
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