Stamp duty changes will benefit many.

Good news for homebuyers: As of midnight tonight, the stamp duty payable on your new property is changing. The new system means that each rate will only apply to the part of the property price that falls within that band. Under the new rules, no tax will be due on the first £125,000 paid, followed by 2% on the portion up to £250,000, 5% on the portion up to £925,000, 10% up to £1.5m and then 12% on anything above that price.