Ahead of the budget next week, there has already been an announcement surrounding the future changes to Stamp Duty Land Tax. 

The stamp duty threshold will change at the end of March 2025.

Here's a summary of what's coming...

From 31st March 2025, there will be several changes coming into effect:

• The nil rate threshold which is currently £250,000 will return to the previous level of £125,000.
• The nil rate threshold for first-time buyers which is currently £425,000 will return to the previous level of £300,000.
• The maximum purchase price for which First-Time Buyers Relief (a reduced stamp duty rate) can be claimed is currently £625,000 and will return to the previous level of £500,000.

The below shows the current stamp duty rates for main residences in England:

*The figures are based on a standard residential purchase of a freehold property, which is to be a main residence for a UK resident.

From 31st March 2025, the stamp duty rates will be:

With timescales from sale to completion of around four months, you will need to act before the 2024 year-end to benefit from current tax rates. 

Therefore, in order to make sure you're not paying any additional stamp duty when you buy your next home or purchase your first home, please do get in touch now!

We do also have this top-tip for selling your home around this time of the year!

With decorations starting to go up for Halloween and Christmas, we recommend you have us over to take your photos BEFORE these decorations go up.

Decorations can make it look like your property has sat on the market for longer than it has. If you can see Halloween decorations in December, or Christmas decorations in the New Year, subconsciously potential buyers will think it's not a new relevant listing and it could put them off. Also, decorations can make a space look cluttered and smaller, as spaces are filled.

You can contact us on our 24/7 number 01530 442356, email us on [email protected] or visit us at www.EweMove.com/AshbydelaZouch