What is stamp duty?

This is a tax levied on any property sale above £125,000. If the property is valued between £125,001 and £250,000 the rate stands at 2% of the purchase price. So, for instance, if you are buying a property costing £200,000 you will have to pay an additional £4,000 to HM Revenue and Customs. 

Stamp Duty rises to 5% for properties between £250,001 and £925,000 and 10% for properties over £925,001. If the property costs more than £1.5million, the Stamp Duty rate goes up to 12%. For more information, click here

If you are buying as an investor or as a second home there will be a higher level of Stamp Duty payable. These figures can change as a result of government budgets but are are currently correct(2019).

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