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Stamp Duty Land Tax

Are you looking to buy a property or land in the United Kingdom? then you have to pay Stamp Duty Land Tax (SDLT)!

This is charged on all purchases of houses, flats and other land and buildings.

The SDLT rate depends on:

  • The purchase price of the property
  • Whether the property is residential
  • Whether the property is in a disadvantaged area

Stamp Duty Land Tax is normally paid directly to your solicitor with your funds for the purchase of the property.

The Stamp Duty Land Tax rates on residential land or property are as follows :

Purchase Price of Property

Rate of SDLT (% of total purchase price)

 £0 - £125,000

 0%

 

 

 £125,001 - £250,000

2%

 

 

 £250,001 - £925,000

5%

 

 

 £925,000 - £1.5 Million

10%

 

 

 Over £1.5 Million

12%

 

 

 

So if you buy a house for £275,000 you will pay £3,750 in Stamp Duty Land Tax on top of the purchase price.

This is calculated as follows:

0% on the first £125,000 = £0

2% on the next £125,000 = £2,500

5% on the final £25,000 = £1,250

Total Stamp Duty Land Tax payable = £3,750

For more information on how to calculate your Stamp Duty Land Tax, please visit: Stamp Duty Land Tax. 

"Alethea is one of the most friendly and approachable people I have met which you do not hear often in the field of estate agents. She is very reliable and on the ball, always making sure to give me feedback on time. The sale of the house was also very smooth, again Alethea was very diligent in chasing up solicitors etc and I would recommend ADM Residential to anyone looking to sell or rent out their property."
Faye Quarmby