WELCOME STAMP DUTY REFORM The hot topic in property at the moment is the chancellors announcement that from the 4th December 2014 the way in which stamp duty is calculated has been radically reformed. The changes mean that there is no longer a "cliff edge" between the thresholds at where stamp duty percentages increase. The old tiered system meant that at £250,000 the buyer would pay £2,500 but on a house sale at £250,001 the buyer would pay £7500.03. With the new rules a buyer at £250,001 will now pay £2500.05 which is a massive saving. The stamp duty shake up will greatly benefit sellers especially those whose property on paper is worth between £250,000 - £270,000. It removes a key bargaining chip from buyers that could barter down the cost of a property on the grounds that they didn't want to pay the extra hike in Stamp Duty. Now, the power is back in the hands of sellers, who know that there is no artificial limit to what a buyer will pay, so will no longer be penalised by these caps. This Stamp Duty Calculator will help you work out the amount of Stamp Duty you will pay http://www.thisismoney.co.uk/money/mortgageshome/article-1633417/Stamp-duty-calculator-How-pay-property.html