Stamp Duty is tax that you must pay when purchasing a new property for an amount over a certain threshold, the amount of tax you pay depends entirely on the purchase price. Stamp Duty is calculated by segmenting portions of the purchase price in to tax bands, each band (A, B, C, D and E) has a different rate of payable tax. Additionally, as of the 1st April 2016, the government is imposing a further 3% tax on Stamp Duty for second homes and buy to let properties.
the full tax band details can be seen in the image below.
To find out if the new rates apply to your purchase, and to see exactly what you will have to pay, make use of our calculators further down the page.
