Stamp Duty explained
Stamp Duty Land Tax (SDLT) is a type of tax you pay in England or Northern Ireland when you buy a house or piece of land. The amount you pay is calculated on the purchase price. if you are a first-time buyer purchasing up to £425,000 or if the property value is under £250,000 and will be your sole residence then you are fully exempt#. However, if you are purchasing an additional property to your main residence, a higher rate will be applied.
Stamp duty is payable within 14 days of completion, this is normally handled by your legal representee.