Temporary Cut to Stamp Duty Announced

Take advantage of the Government's Temporary Cut in Stamp Duty

CALA Homes 08 July 2020

Looking to purchase a new home in England?

As of today, you will benefit from the temporary cut to Stamp Duty Land Tax (SDLT) announced by the Government, meaning that buying your dream CALA home could be more attainable than you think. 

This new scheme will run until April 2021 but why not search for your new home now across our English developments some of which are ready to move into now.

 

How does it work?

If you purchase a home under £500,000, you will pay no SDLT. 

Where the purchase price is over £500,000, you will still save on the stamp duty up to this amount, and will pay stamp duty above this amount at the usual amount. 

For example, from today:


Property or lease premium or transfer value  

SDLT rate

 Up to £500,000    0% (3% for second homes or investors)
 The next £425,000 (the portion from £500,001 to £925,000)   5% (8% for second homes or investors)
 The next £575,000 (the portion from £925,001 to £1.5 million)     10% (13% for second homes or investors)
 The remaining amount (the portion above £1.5 million)   12% (15% for second homes or investors)

 

In addition, you may also be eligible for Help to Buy, enabling you to buy a CALA home with as little as a 5% deposit.