STAMP DUTY

When you purchase a property, it is your legal obligation to pay Stamp Duty Land Tax (SDLT) if you buy a property in the UK over a certain price. This is charged on all purchases of houses, flats and other land and buildings.

The SDLT rate depends on:

• The purchase price of the property
• Whether the property is residential

The brackets for Stamp Duty is as follows:

Purchase price of property	Rate of Stamp Duty	Buy to Let/ Additional Home Rate*
£0 – £125,000	0%	3%
£125,001 – £250,000	2%	5%
£250,001 – £925,000	5%	8%
£925,001 – £1,500,000	10%	13%

For purchases above this amount, the Stamp Duty is 12% above this amount.