Stamp Duty

Stamp duty is a tax paid to the government by the purchasers of a property. You do not pay stamp duty on the sale of a property.

The amount of stamp duty payable by a purchaser is based on the following calculations:

  • The first £125,000 of any purchase is fully exempt irrespective of what price you are purchasing for. Example: Purchase for £125,000 and you would not pay stamp duty.
  • The next £125,000 is based on 2% of that extra amount up to a purchase price of £250,000. Examples: Purchase for £180,000 = £1,100 stamp duty payable. Purchase for £250,000 = £2,500 stamp duty payable
  • If purchasing between £250,000 to £925,000 a further 5% of the upper level is payable. Examples: Purchase for £300,000 = £5,000 stamp duty payable, purchase for £650,000 = £22,500 stamp duty payable. Purchase for £800,000 = £30,000 stamp duty payable.
  • If purchasing between £925,000 and 1.5 Million a further 10% becomes payable on the upper level. Example: Purchase for £1,000,000 = £43,750
For more information or questions regarding stamp duty call Scott Beckett on 01394 338000

Information correct as of 2nd May 2015