What is Stamp Duty

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What is Stamp Duty

When purchasing a property or land over a certain value in England, Wales and Northern Ireland, you are required to pay Stamp Duty.  Stamp Duty is no longer payable in Scotland.

Payments are arranged by your solicitor to ensure the payment is made at the time of completion of your purchase.

The amount to be paid depends on the value of the property you are purchasing. Temporary changes have been made to stamp duty from July 8, 2020 to 30 September 2021.  To get the latest guidance on this click here.

To find out how much Stamp Duty you will be required to pay, follow the guide below:

Follow our guide

  1. To find out how much you will be required to pay click here.
  • You will need to provide the following information:
    • Whether you are purchasing a freehold or leasehold property.
    • Whether you are purchasing a residential or non-residential property.
    • The date you anticipate purchasing the property.
    • Whether your circumstances are owning one or more properties.
      • If this is your first home, you would select no.
      • If you are buying an additional property, you would select yes.
  • Enter the price of the property are you planning to purchase.
  • You will then be given a figure for Stamp Duty to be paid at completion.

In some situations, you may be exempt or you may be eligible for relief from paying it.  For guidance click here.

You will now need to add this figure to the costs associated with buying your first home and/or buying and selling a property at the same time.