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What is Stamp Duty?

Stamp Duty is the tax charged by the Government when you buy a home of more than £125,000.

Why do we have to pay it?

When you buy a property the change in land ownership has to be legally registered at the Land Registry. This process requires a certificate from the HMRC – which they will only issue on receipt of the Stamp Duty due on the purchase of the property.

The transfer of funds to pay the Stamp Duty will be managed for you by your solicitor.

How much is Stamp Duty?

For homes over £125,000 there is no Stamp Duty to pay on the first £125,000, then the following rates apply:

Purchase Price

Stamp Duty %

£0 to £125,000

0% (Zero)

£125,001 to £250,000

2%

£250,001 to £925,000

5% 

£925,001 to £1,500,000

10%

Over £1,500,000

12%

What if I'm a first time buyer?

If you're a first time buyer, purchasing a home up to £500,000, the following rates apply:

Purchase Price

Stamp Duty %

£0 to £300,000

0% (Zero)

£300,001 to £500,000

5% 

Note: For properties priced over £500,000, no first time buyer relief is available. See existing homeowner rates.

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What if I'm an investor or own more than one property?

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If you are buying an investment property or an additional home, the following rates will apply to your purchase:

Purchase Price

Stamp Duty %

£0 to £125,000

3%

£125,001 to £250,000

5%

£250,001 to £925,000

8%

£925,001 to £1,500,000

13%

Over £1,500,000

15%

Buying in Scotland and Wales

Stamp Duty in Scotland is referred to as the Land and Buildings Transaction Tax (LBTT) and is charged when you buy a home of more than £145,000.

See more detail on LBTT (Scotland)

Stamp Duty in Wales is referred to as the Land Transaction Tax (LTT) and is charged when you buy a home of more than £180,000.

See more detail on LTT (Wales)

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