Our Sales team are regularly asked ‘How much is the stamp duty?’
So, how much is the stamp duty? Stamp duty was changed in April of 2016 with an addition of a new 3 per cent surcharge on all rates. It is charged on the entire purchase price of a property. Stamp land duty is a tax paid when buying a property.
The buy-to let stamp duty thresholds are when standard: The rates for second home:
- 0% up to £125,000 3%
- 2% up to £250,000 5%
- 5% up to £925,000 8%
- 10% up to £1.5 million 13%
- 12% above £1.5 million 15%
*No stamp duty is paid on properties that cost less than £40,000 as these are considered low value.
From 22 November 2017, first time buyers don’t pay any stamp duty on properties under £300,000 and then £300,001 and up to £500,000 pay 5%.
To find out more information online, click here.
To work out the stamp duty on your house, you can use the calculator.
We hope this answers your question ‘How much is the stamp duty?’. If you are looking to buy a property in Central London, please visit Greater London Properties, Central London’s largest independent estate agent or call us on 0207 113 1066.