Sandown looking towards Shanklin Sandown looking towards Shanklin Windmill sunset - Bembridge Spring RNLI - Bembridge Eldridges Logo
  • Newport Office: 01983 524741 | Freshwater Office: 01983 752492

Autumn Budget change in Stamp Duty for Shared Ownership

Help to Buy

Autumn Budget change in Stamp Duty for Shared Ownership

Autumn Budget change in Stamp Duty for Shared Ownership 308 200 Eldridges

The Autumn Budget saw a change in Stamp Duty for those who purchase Shared Ownership Properties. This means that all purchases under this scheme will be exempt from Stamp Duty.

Whilst previously there were two ways of electing to pay this tax under this scheme, it now makes more practical sense to nominate to submit a stamp duty return on the full market value of the property rather than the smaller share you may be purchasing. This means that when you increase your share in the property bit by bit (known as staircasing) up to 100%, you will not have to pay any further tax or submit a new stamp duty return unless the market value has increased. Eldridges would, of course, be pleased to advise you on all shared ownership sales and purchases.

Follow the link to to find out more about shared ownership:

Newport Office

36 St James Street, Newport, PO30 1LF

01983 524741

01983 556088

Freshwater Office

Avenue House, Avenue Road, Freshwater, PO40 9UZ

01983 752492

01983 754247

Privacy Preferences

When you visit our website, it may store information through your browser from specific services, usually in the form of cookies. Here you can change your Privacy preferences. It is worth noting that blocking some types of cookies may impact your experience on our website and the services we are able to offer.

We use Google Analytics to build better user experiences for future visits.

Google Fonts enable us to create a better viewing experience across the site

Google Maps help enhance your experience using maps and directions within the site.

Click to enable/disable video embeds.

Our website uses cookies to improve your site experience, from both Eldridges Solicitors and third party services. Define your Privacy Preferences and/or agree to our use of cookies.