Purchase Price | Stamp Duty % |
---|---|
£0 – £300,000 | 0% (Zero) |
£300,001 – £500,000 | 5% (0% Stamp duty pay up to £300,000) |
Purchase Price | Stamp Duty % |
---|---|
0 – £125,000 | 0% |
£125,001 to £500,000 | 2% |
£500,001 to £925,000 | 5% |
£925,001 to £1.5million | 10% |
More than £1.5million | 12% |
Stamp Duty is the tax charged by the Government when you buy a home. For first-time buyers in England no Stamp Duty is payable on properties up to £300,000. You need to start paying Stamp Duty from £125,000
When you legally complete on a property purchase the ownership is registered with the Land Registry. At this stage you are required to pay stamp duty. Your Solicitor normally deals with this on your behalf.