Stamp Duty Land Tax
Stamp Duty Land Tax (Stamp Duty) is the duty which is payable to HM Revenue & Customs (Stamp Taxes Office) on the purchase price of the property.
In order to be able to register the property, the Stamp Duty Land Taxes Office must issue a certificate, which is required by the Land Registry for registration purposes.
To obtain a certificate, it is necessary for a lengthy tax form to be completed and then forwarded together with the duty payable to the Revenue. Upon receipt of this, the certificate is issued.
Stamp Duty Land Tax is payable on all properties with a purchase price of £125,000. or higher. The amount of tax payable is calculated as set out below:-
- £125,000 - £250,000 1% of the purchase price
- £250,001 - £500,000 3% of the purchase price
- £500,001 and over 4% of the purchase price
If you have any enquiries or for a free no obligation quotation please contact our Real Estate Team on 01603 610911 (or email conveyancing@leathesprior.co.uk ).
