STAMP DUTY

The Stamp Duty Land Tax (SDLT) is a charge placed on all residential property purchases over £125,000 in England, Wales and Northern Ireland. From April 2016 an additional 3% SDLT surcharge is payable on a second home or buy to let property with a purchase price of £40,000 or above. Please see the chart below for current charges.

If you are a First Time Buyer then as of 22nd November 2017, there is no stamp duty payment due on purchases up to £300,000.

How is Stamp Duty (SDLT) calculated ?

Example: If you purchase a property for £275,000, the SDLT you would owe is calculated as follows

For more information on SDLT we would recommend you speak to your solicitor or a tax advisor.

Please note information correct as of Nov 2017