Close up of keys with key ring in shape of a house
Media playback is unsupported on your device
Video

Autumn Statement: What do stamp duty changes mean?

The unexpected changes to stamp duty announced by the Chancellor in his Autumn Statement will affect the vast majority of people buying a home.

George Osborne says the changes will mean a tax reduction for 98% of those liable but for those buying property worth around £1m or more, it will mean a sharp rise in the amount of stamp duty they pay.

Kamal Ahmed explains.

Go to next video: 'Complete reform' of stamp duty tax