That’s right folks, you have to pay Stamp Duty (or Stamp Duty Land Tax, to give it its full name) if you’re buying property or land costing over £125,000. Use this calculator to work out how much Stamp Duty you’ll need to pay if you’re buying a new home.
The rate you pay depends on the purchase price of the property. The rates were changed on December 4, 2014.
This tax affects both freehold and leasehold properties – regardless if you’re a cash buyer or applying for a mortgage
The table below shows the different rates, starting at 2% for properties costing from £125,001.
Purchase price of property Rate of Stamp Duty
£0 – £125,000 0%
£125,001 – £250,000 2%
£250,001 – £925,000 5%
£925,001 – £1.5 million 10%
Over £1.5 million 12%