Stamp duty for pensioners

stov

Hi all, my mother is to sell the family home, as she lives on her own now and would like to move into a 2 bedroom property closer to me. Does she still have to pay the 5% stamp duty as the property is over 250k or as an oap is she entitled for a discount.

Thanks in advance.

davidmcn

She might be entitled to a bus pass, she doesn't get discounts from her stamp duty.

Note that the 5% rate only applies to the portion above £250k.

stov

Ok thanks for that

unforeseen

davidmcn wrote: »

She might be entitled to a bus pass, she doesn't get discounts from her stamp duty.

Note that the 5% rate only applies to the portion above £250k.

On top of the £2500 for the bit between £125k & £250k

dimbo61

So if mum sells her home and buys a new place she will pay
No stamp duty up to £125,000
2% stamp duty from £125,000-£250,000
5%.stamp duty over £250,000

rtho782

Note that the stamp duty is on the new property not the old one.