This note looks at the changes made to Stamp Duty by the Chancellor George Osborne in his December 2014 Autumn Statement.
Stamp Duty is a tax paid on the market price of a property purchased in the United Kingdom
Prior to December 2014, stamp duty was charged at a single percentage rate on the whole purchase price of a property, with different rates for different value bands.
Under the revised system, the rate of stamp duty will vary in a similar way to the banding system for income tax
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