What is Stamp Duty?
Stamp Duty is a tax on land and property transactions.You have to pay Stamp Duty (or Stamp Duty Land Tax, to give it its full name) if you buy a property in the UK costing more than £125,000.
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