The latest Government plans to cut Stamp Duty Land Tax (SDLT) across the board could allow you to save up to £8,750 if you’re a first-time buyer.
The new reductions are as follows:
- The level at which people begin paying SDLT has doubled from £125,000 to £250,000
- First-time buyers will not start apying SDLT until £425,000
- First-time buyers can access relief when buying property costing less than £625,000
- Stamp Duty Land Tax has been reduced for all movers by up to £2,500, with first-time buyers able to access upt o £8,750 in relief
With these new stamp duty measures in place, now is the perfect time to make your move to Graven Hill. With a fantastic selection of stunning 2-5 contemporary homes, you’ll be spoilt for choice.
Take a look at the example below to see how these latest measures will affect you.
The Hanborough • Price: £385,000 • Available plots: 1453 & 1454
First-Time Buyer (up to 22 September 2022)
Stamp Duty to pay: £4,250 • Effective Rate: 1.1%
| Purchase price of property | Taxable Amount | Rate of SDLT |
| £0-£300,000 | £300,000 | 0% |
| £300,001-£500,000 | £85,000 | 5% |
First-Time Buyer (after 23 September 2022)
Stamp Duty to pay: £0 • Save: £4,250
| Purchase price of property | Rate of SDLT |
| £0-£425,000 | 0% |
| £425,001-£625,000 | 5% |
Existing homeowner (up to 22 September 2022)
Stamp Duty to pay: £9,250 • Effective Rate: 2.4%
| Purchase price of property | Taxable Amount | Rate of SDLT |
| £0-£300,000 | £300,000 | 0% |
| £300,001-£500,000 | £85,000 | 5% |
Existing homeowner (after 23 September 2022)
Stamp Duty to pay: £6,750 • Save: £2,500
| Purchase price of property | Rate of SDLT |
| £0-£125,000 | 0% |
| £125,001-250,000 | 2% |
| £250,001-£925,000 | 5% |
For more information about the latest Stamp Duty Land Tax measures, take a look at the Government’s Stamp Duty Land Tax Fact Sheet. To find out more about our Custom Build New Homes and to discuss your requirements, please get in touch with our Sales team on 01869 390 009 or email sales@gravenhill.co.uk.