Stamp Duty Land Tax
Stamp Duty Land Tax is the tax charged by the Government when you purchase a property. It is payable when the purchase price is over a certain amount.
This process will be managed by your solicitor.
There are circumstances where you will be exempt from paying Stamp Duty Land Tax, for example if you are a First Time Buyer.
If you are a first time buyer, the following rates will apply:
| Purchase Price | Stamp Duty Payable (%) |
| £0 to £425,000 | 0% (Zero) |
| £425,001 to £625,000 | 5% |
The rates payable if you already own/have previous owned a property are:
| Purchase Price | Stamp Duty Payable (%) |
| £0 to £250,000 | 0% (Zero) |
| £250,001 to £925,000 | 5% |
| £925,001 to £1,500,000 | 10% |
| Over £1,500,000 | 12% |