

Stamp Duty
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.
# Other exemptions include when a portion of the home is transferred to a partner or spouse following a divorce or separation and transferring the deeds of your home to another person as a gift.
Stamp duty is payable within 14 days of completion, this is normally handled by your legal representee.
Stamp duty is payable within 14 days of completion, this is normally handled by your legal representee.

Stamp Duty thresholds
| |
£0-£250,000 (£425,000 for first time buyers) | 0% |
£250,001-£925,000: | 5% |
£925,001-£1.5m: | 10% |
Over £1.5m: | 12% |