|
Stamp Duty Land Tax when you buy property
As of April 2010 new thresholds have been introduced for stamp duty:
| |
Residential property - purchase price |
Rate of Stamp Duty Land Tax |
|
|
up to £125,000 |
0% |
|
|
£125,001 - £250,000 |
1%* |
|
|
£250,001 - £500,000 |
3% |
|
|
£500,001 or more |
4%** | |
* First Time Buyers will be exempt from Stamp Duty Land Tax on any purchase below £250,000 upto 25th March 2012.
** From April 2011 all property transactions over £1,000,000 will be subject to a 5% Stamp Duty Tax.
|
