To find out the amount you will have to pay in Stamp Duty Land Tax visit www.gov.uk/stamp-duty-land-tax and use the Stamp Duty Calculator.
Buyers of second homes and Investors will pay an additional rate of 3% on top of the standard rate.
The amount of Stamp Duty Land Tax you will pay is determined by the amount you are paying for your new home. There are several rates of Stamp Duty depending on whether you are a first time buyer or, own multiple properties. The tax applies to home purchases in England and Northern Ireland. Scotland has a separate system.
The level of Stamp Duty first time buyers pay is less and rises in bands, depending on the value of the home.
Due to the Covid-19 Pandemic the Stamp Duty Land Tax has temporarily changed so that all property sales with a value of less than £500,000 will not pay the tax. Property sales with a value above £500,000 will pay a rate of tax only on the additional amount, which rises in bands of values.
Stamp Duty Land Tax is a tax, paid by the buyer to the Government, on all property purchases.
Stamp Duty Land Tax
This handy question and answer guide gives you a small snapshot of information about STDL – Stamp Duty Land Tax.
Westerhill Homes Part Exchange
We are keen to help you move and appreciate that selling your own home is stressful. Our Part Exchange Scheme take all the stress away from you, plus you’ll save on estate agents fees. Here’s some handy questions and answers to explain more about how our part exchange scheme works.