Stamp Duty

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Since December 4th 2014, the rules regarding the payment of stamp duty have changed.

The payment is now calculated based on a rising gradient system, similar to income tax.

The payments are as follows:

Property or lease premium or transfer value SDLT rate:

Up to £125,000 - Zero
The next £125,000 (the portion from £125,001 to £250,000) - 2%
The next £675,000 (the portion from £250,001 to £925,000) - 5%
The next £575,000 (the portion from £925,001 to £1.5 million)  -10%
The remaining amount (the portion above £1.5 million) - 12%

To make things easier, we suggest you use the government's stamp duty calculator. It can be all important when setting your home-hunting budget!

 

http://www.hmrc.gov.uk/tools/sdlt/land-and-property.htm