What is stamp duty?
You pay Stamp Duty Land Tax (SDLT) when you buy houses, flats and other land and buildings over a certain price in the UK.
Who needs to pay stamp duty?
You pay the tax when you:
✔ buy a freehold property
✔ buy a new or existing leasehold
✔ buy a property through a shared ownership scheme
✔ are transferred land or property in exchange for payment, for example you take on a mortgage or buy a share in a house
Thresholds
The threshold is where SDLT starts to apply. If you buy a property for less than the threshold, there’s no SDLT to pay.
The current SDLT threshold for residential properties is £250,000. This changes on 1 October 2021. The threshold for non-residential land and properties is £150,000.
How to calculate the stamp duty fee?
If you need SDLT calculation for you, please contact us.
