If you are unsure of what exactly stamp Duty Tax is here is a brief explanation below. To make you life easier we have also provided you with a calculator so that you can correctly budget how much buying your first or second home will cost you. Stamp Duty is a tax that must be paid if you buy property or land over a certain value and applies to the UK and Northern Ireland. The threshold for residential property is £125,000 and for non-residential property it is £150,000. For further information please click on the link below to direct you to government website for further details: https://www.gov.uk/stamp-duty-land-tax/residential-property-rates Disclaimer: The stamp duty calculator is designed to give you an idea of your stamp duty liability when buying a home in England, Wales or Northern Ireland. The stamp duty calculator should be used as a guide only and we cannot guarantee the accuracy of the results.
Under the new rules from 4 December, you may pay Stamp Duty at several different rates, depending on the purchase price. Under the old rules, there were several different Stamp Duty rates, but you, as a homebuyer, paid the same rate on the whole purchase price.