Stamp Duty

Stamp Duty Land Tax (SDLT) has to be paid if you purchase a property (house, flat, apartment and other land & buildings) in the UK over £125,000

You will pay:
nothing on the first £125,000 of the property purchase price
2% on the next £125,000
5% on the next £675,000
10% on the next £575,000
12% on the rest (above £1.5 million)

Example: if you buy a property for £275,000, you’ll pay £3,750 of SDLT. This is made up of: nothing on the first £125,000, £2,500 on the next £125,000 and £1,250 on the remaining £25,000

Exemption: From 22 November 2017 first time buyers paying £300,000 or less for a residential property will pay no Stamp Duty Land Tax ( SDLT ). First time buyers purchasing property for more than £500,000 will not be entitled to any relief and will pay SDLT at the normal rates. The relief must be claimed in an SDLT return