When you buy a property in the UK, that transaction can be subject to a tax from the UK Government. The tax is based on the property purchase price and is commonly known as Stamp Duty or Stamp Duty Land Tax (SDLT). It is applicable to all purchases of houses, flats, apartments, land and other buildings.
Calculate your Stamp Duty
When is Stamp Duty payable and how much do I need to pay?
Stamp Duty (SDLT) is payable on a property purchase of £125,000 or more in the UK. The tax is calculated as a percentage of the purchase price and in brackets. It’s a similar way of working to the current UK income tax brackets.
Previously before December 4th 2014
Previously, SDLT was charged at a single rate for the entire price of a property. From 4 December, Stamp Duty is charged at increasing rates for each portion of the price.
You can choose to pay SDLT at the old or the new rates if you exchanged contracts on or before 3rd December 2014, and completed on 4th December 2014 or later.
What about buying a property in Scotland? Do I have to pay Stamp Duty?
From 1 April 2015 Stamp duty won’t apply in Scotland. Instead you’ll pay Land and Buildings Transaction Tax when you buy a property.