Stamp Duty Land Tax is the tax that the government charges when you purchase a property over £200,000. You pay different rates depending on the value of your property and the amount of your mortgage (if any).
You can find out how much you stamp duty tax is by using our stamp duty calculator.
The stamp duty thresholds and applicable tax rates that are currently in effect are as follows:
2.0% on first £250,000
5.5% on balance
3.0% on first £350,000
3.5% on balance
No stamp duty is payable by first and second time buyers (excluding corporate entities) on the first £260,000 of the purchase cost.