Stamp duty is the tax paid by the purchaser when buying a property, at the time of purchase. Currently for properties purchased up to £125,000 the rate is 0%, from £125,000-£250,000 2%, £250,000-£925,000 5%, £925,000-£1.5million 10% and above this at 12%. There is a discount for first time buyers where they pay 0% up to £300,000 and then only 5% from £300,000-£500,000.
The latest news from PMC Partnership incorporating Pomfreys Accountants – 25th March 2024
From 6th April 2024 the National Minimum Wage for Employees 23 years and over will rise from £10.42 to £11.44. Please note this is the Employers legal responsibility to check their employees are earning at least this amount and inform the office to amend the payroll if required.