Earlier this month the Government introduced changes to the Stamp Duty tax on homes. The new rates mean that all homes under a purchase price of £937,000 benefit from a reduced Stamp Duty Tax. The greatest advantage will be for those who were previously caught in the 3% bracket. The average price of a family home in the UK falls in this category, £275,000. Under the new rates, a home buyer buying a property at this price would pay just £3750, where they would have previously paid £8250, a saving of £4500!
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