STAMP DUTY LAND TAX
A tax charged by the Government on all property sales for more than £125,000; it replaced Stamp Duty in December 2003. Stamp Duty Land Tax is paid by the buyer and not the seller. The amount you pay increases with the value of the house as follows:
Purchase Price | Stamp Duty payable |
Up to £125,000 | none |
£125,001-£250,000 | 1% of purchase price |
£250,001-£500,000 | 3% of purchase price |
Over £500,001 | 4% of purchase price |
For certain "disadvantaged areas" and non-residential land the starting point is £150,000 rather than £120,000. for The rates of Stamp Duty frequently change at Budget time. Check our News page to see if there have been any alterations.