This is a land tax payable when purchasing a property or land in the UK. The amount payable depends upon the purchase price.
- If you are paying £125,000 or less, then you are exempt from paying stamp duty.
- If you are paying more than £125,000, then you pay stamp duty of between 1 to 5 % of the purchase price – on a sliding scale.
If you are a genuine first time buyer and never owned a property anywhere in the world then you will be exemp from stamp duty on purchases upto £250,000.
I do have access to a stamp duty mitigation scheme on purchases from £250,000 upwards as the tax is 3% upwards. Please contact us direct for further details.
