This is the tax that most people will pay when they buy another property. It is generally the purchaser who pays this tax via their solicitor although some sellers will pay this tax for you as part of a sale agreement. The percentage you pay depends on the sale price of your property and is currently only payable on a sale value above £125,000 - the current rates are as follows:

  • Up to £125,000 - 0%
  • Over £125,000 to £250,000 - 1%
  • Over £250,000 to £500,000 - 3%
  • Over £500,000 to £1,000,000 - 4%
  • Over £1,000,000 to £2,000,000 - 5%
  • Over £2,000,000 - 7%
  • Over £2,000,000 (purchased by certain persons including corporate bodies) - 15%

Note that the stamp duty rate shown is payable on all the amount and is not split according to the percentages. So if you have a sale price of £260,000 then your payment rate is 3% of all of the £260,000. 

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