Stamp Duty Land Tax (SDLT) is payable on completion of a property purchase in the United Kingdom above £125,000.
Stamp Duty is payable on purchase transactions of houses and flats, land and buildings.
The scale of charges for residential property is:
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 remainder (above £1.5 million)
From 1st April 2016, Stamp Duty rates changed for anyone purchasing a Second Home or Buy to Let property. This adds an additional 3% charge to each price band listed above.
Use the Stamp Duty Calculator to work out how much you will be required to pay.