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Stamp Duty

What is Stamp Duty?

‘Stamp Duty Land Tax’ is a tax due when buying property and land in the UK. Since 4th December 2014, you will only pay the rate of tax on the part of the property price within each tax band. (This is similar to how income tax is calculated) SDLT is charged at increasing rates for each portion of the price.

You’ll pay:

  • Nothing on the first £125,000 of the property 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)
    For 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
  • £1,250 on the remaining £25,000

How do I pay Stamp Duty?

Typically your Solicitor will assist you with Stamp Duty payments.

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