Stamp duty is a land tax that most people buying a property have to pay to the Government on completion. The amount they have to pay depends on the value of the property they are buying, with more expensive houses incurring a higher rate of stamp duty land tax.

stamp-duty-property-transactions
Text For more information on Lurot Brand’s Sales department or to talk to a member of our team about fees, please call us on 020 7590 9955


If you’re thinking of buying a property your first question is likely to be: “How much is stamp duty?” The rate you can expect to pay on a property priced between £250,001 and £925,000 is 5% and for properties priced at £1.5m and over you’ll pay 12%. From April 2016 buyers acquiring buy-to-let investments or second homes have been required to pay an additional 3% in tax, because the property in question is not their primary home.

Unfortunately, the stamp duty on property (sometimes referred to as SDLT or house stamp duty) will push up the overall price of your purchase. If you’re not sure how much the total will be in a home you want to buy, you can always use a handy online stamp duty calculator to work out the exact cost.

We often receive questions from buyers living overseas, who want to know if they will have to pay additional UK stamp duty rates if they purchase a buy-to-let or second home in Great Britain. Regrettably, the answer is yes. The additional 3% is payable if the purchaser owns another residential property anywhere in the world.

If you’re still unsure and would like to discuss stamp duty with a member of our sales team, we’d be happy to help. Call us today at our offices in Hyde Park, Notting Hill or South Kensington.

How much do I have to Pay?

Stamp Duty on Residential Property Purchases, as of 4 December 2014, is now tiered and calculated as below:

  • No tax is due up to the first £125,000
  • 2% is due over £125,000 to £250,000
  • 5% is due over £250,000 to £925,000
  • 10% is due over £925,000 to £1.5 million
  • 12% is then due on any amount paid over £1.5 million

For more information on Lurot Brand’s Sales department or to talk to a member of our team about fees, please call us on 020 7590 9955
or click here to email us directly

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