STAMP DUTY LAND TAX
If you are buying residential property in the UK for more than £125,000 you will probably have to pay stamp duty land tax to HM Revenue & Customs. Set out below is a chart showing the current rates of stamp duty payable:-
| You Pay | |
| £0 - £125,000 | zero |
| £125,001 - £250,000 | 1% |
| £250,001 - £500,000 | 3% |
| £500,001 or over | 4% |
| Stamp duty is also payable on the rent element of new leases in addition to the above duty. |
|
| The government has temporarily suspended land tax stamp duty for first time buyers on purchases up to and including £250,000.00 until and including 24 March 2012. | |
| If a residential property is purchased in a disadvantaged area, stamp duty is zero rated up to £150,000.00. | |
If you would like this firm to carry out the conveyancing on your next property sale or purchase do not hesitate to telephone 0207 476 2544 for a free quotation.
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