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Stamp Duty Land Tax (SDLT)

If you buy a property in the UK over a certain price, you have to pay Stamp Duty Land Tax (SDLT). This is charged on all purchases of houses, flats and other land and buildings.
The SDLT rate depends on:

  • The purchase price of the property
  • Whether the property is residential
  • Whether the property is in a disadvantaged area

Residential properties

Purchase price of property Rate of SDLT (percentage of the total purchase price)
£0 - £125,000 0%
£125,001 - £250,000 1%
£250,001 - £500,000 3%
£500,001 - £1 million 4%
Over £1 million - £2 million 5%
Over £2 million 7%
Over £2 million bought by corporate bodies 15%

Corporate bodies
SDLT is charged at 15% on residential dwellings costing more than £2 million bought by bodies like:

  • companies
  • collective investment schemes

Some companies acting as trustees for a settlement and property developers may only need to pay 7%.

If you are confused by stamp duty or by conveyancing, take a look at our frequently asked questions for buyers, or contact your local branch to discuss any property related matters with our expert sales consultants.

Visit us in branch or click here to request a call back and we will arrange an appointment with our Financial Advisors.

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