What is stamp duty?

Stamp Duty Land Tax (SDLT) is a Government tax that is applied to the purchase of properties over £125,000.

The level of SDLT applicable depends on the purchase price of the property but it will be between one and five per cent of the purchase price.

Stamp Duty Land Tax Thresholds – What will I have to pay?

Purchase Price of Residential Property Rate of SDLT
£0- £125,000 0%
£125,001- £250,000 1%
£250,001 - £500,000 3%
£500,001- £1,000,000 4%
£1 million and over 5%