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FTBs prepare for 20% stock reduction when stamp duty threshold drops: eXp The level of stamp duty free properties will fall by 20% of over 90,000 properties as of April when the threshold reverts back to £300,000 for first-time buyers, eXp UK reveals. Last week, Chancellor Rachel Reeves gave no indication in her Budget that the government would extend the current FTB stamp duty threshold, which is due to expire in March. From 1 April 2025, the current stamp duty threshold up to which FTBs don’t pay stamp duty in England is going to revert back from its current level of £425,000 down to £300,000. The threshold was raised in the Conservatives September 2022 Budget and is one of the few measures that remains from that fiscal event. eXp UK analysis shows that there are currently an estimated 453,212 homes listed for sale in England. Of these properties, 62% (281,863) are priced below the current FTB stamp duty threshold of £425k and are available for purchase without paying any stamp duty tax at all. However, under the incoming lower threshold of £300k, only 42% of the properties are available without tax. This marks a reduction of 20%, which means the number of stamp duty purchasing opportunities available to FTBs would fall by 91,570 if it were implemented today. Thank you for the insight Adam Day

Stamp duty changes explained in full - see how much more you'll likely pay next year Whether you need to pay stamp duty depends on the price of the property you’re buying and if you’re a first-time buyer, while there are also different stamp duty thresholds depending on where you live https://lnkd.in/eM7sM6Wr

🏠 Important Update: Stamp Duty Changes Coming in April 2025 📅 Key Changes from 31 March 2025: 1.⁠ ⁠Standard Purchases:    • Nil rate threshold drops from £250,000 to £125,000 2.⁠ ⁠First-Time Buyers:    • Nil rate threshold reduces from £425,000 to £300,000    • Maximum purchase price for relief decreases from £625,000 to £500,000 These adjustments mark the end of the temporary increase in thresholds announced in September 2022.  Transactions completed after 31 March 2025 will be subject to increased Stamp Duty rates. 📌 Note: It's unclear if further amendments will be made before this date. We'll keep you updated on any developments. If you are planning to move home before April next year we advise you do this very soon, as your home will need to be through before the 31st March deadline to avoid paying the extra stamp duty

First-time buyers warned they have just two months to benefit from stamp duty relief First-time buyers have just two months left to save up to £15,000 in stamp duty, Zoopla has warned. With the average property taking around 25 weeks to complete, and rates due to return to previous levels on 1 April 2025, first-time buyers should be looking to begin the process as soon as possible to benefit from the tax relief. Stamp duty remains essentially a tax on moving home in southern England, with 81% of total receipts coming from southern England. The threshold will reduce from nothing paid on homes up to £425,000 down to £300,000. A first-time buyer purchasing a £425,000 property in April will have to pay £6,205, compared to nothing today.

When a person purchases a property for consideration, which is less than the stamp duty value, then only all the complications arise. In this scenario, Section 56(2)(x) of the Income-tax Act is attracted. As defined in section 56(2)(x), if any person receives any immovable property for a consideration that is less than the Stamp Duty Value, then the difference amount between the Stamp duty value and actual consideration paid, is taxable in the hands of the buyer as Income from Other Sources (The difference between the   Stamp duty value and actual consideration paid is more than 50,000/- or more than 10% of the actual consideration, whichever is higher shall be added to the income of the buyer). Here it is pertinent to mention that this provision is applicable to the buyers irrespective of the fact that the immovable property is purchased from any person, including any builder. #Compliancetips

When a person purchases a property for consideration, which is less than the stamp duty value, then only all the complications arise. In this scenario, Section 56(2)(x) of the Income-tax Act is attracted. As defined in section 56(2)(x), if any person receives any immovable property for a consideration that is less than the Stamp Duty Value, then the difference amount between the Stamp duty value and actual consideration paid, is taxable in the hands of the buyer as Income from Other Sources (The difference between the   Stamp duty value and actual consideration paid is more than 50,000/- or more than 10% of the actual consideration, whichever is higher shall be added to the income of the buyer). Here it is pertinent to mention that this provision is applicable to the buyers irrespective of the fact that the immovable property is purchased from any person, including any builder. #Compliancetips

I have had a number of clients both past and present contact me after the budget yesterday with regard to Stamp duty going forward so below is an easy guide to SDLT as implemented at the budget yesterday. Hope this helps Changes expected to Stamp Duty in 2025: Starting from March 31, 2025, the UK's Stamp Duty Land Tax (SDLT) rates will revert to previous thresholds after a temporary increase that began in 2022. Key changes will include. 1. Lower Nil Rate Threshold: The current threshold of £250,000, below which no stamp duty is payable, will decrease back to £125,000. This means buyers will start paying SDLT on property values above £125,000, potentially increasing costs for many purchasers. 2. First-Time Buyer Adjustments: The nil-rate threshold for first-time buyers will drop from £425,000 to £300,000. Additionally, the maximum property price eligible for first-time buyer relief will reduce from £625,000 to £500,000. First-time buyers will thus pay 5% SDLT on properties priced between £300,000 and £500,000, a shift that could add thousands in upfront costs for many in this group. 3. Revised Rate Structure: After March 2025, the SDLT rates will be: • 0% on values up to £125,000 • 2% on the portion from £125,001 to £250,000 • 5% on £250,001 to £925,000 • 10% on £925,001 to £1.5 million • 12% on amounts over £1.5 million. This change impacts all buyers, with notable increases in costs for properties in higher-value brackets. Buyers aiming to save on stamp duty might consider completing transactions before this deadline. #propertyacquisitions #buyingagent #hampshirespecialist

First-time buyers; What you need to know about stamp duty changes.. Are you planning to step onto the property ladder? If so, it's time to prepare for some important Stamp Duty changes coming in April 2025. These updates could significantly impact first-time buyers, especially those purchasing in areas where property prices tend to push past current thresholds. See link to find out... https://lnkd.in/gnjeyNrA

🚨 Stamp Duty Changes Coming in April 2024 – What You Need to Know! 🚨 From 31 March 2024, new Stamp Duty Land Tax (SDLT) rules for first-time buyers in England & Northern Ireland will be introduced: 🏡 No SDLT on properties up to £300,000 (currently up to £425,000) 💰 Pay only 5% SDLT on the portion between £300,001 and £500,000 ⏳ Potential savings of up to £6,250 for those buying before the deadline! 📊 Right to Buy (RTB) buyers – keep in mind that SDLT is calculated based on the full market value of the property, not the discounted price, if your RTB discount exceeds £125,000. Whether you’re a first-time buyer or planning to use Right to Buy, it’s essential to understand how these changes affect your property purchase. Check out the video for all the details! 🎥 #PropertyAdvice #StampDuty2024 #FirstTimeBuyer #RightToBuy #MortgageCoach

The recent increase in stamp duty rates is anticipated to have a significant impact on property investors and home-movers in the UK. Predictions indicate a potential 4% decline in property transactions, coupled with unprecedented tax liabilities commencing in April 2025. Buyers in London and Southern England are particularly affected due to the higher property prices and stamp duty rates, especially for properties exceeding £1.5 million. https://lnkd.in/gbXP-ynS