Stamp Duty land tax rates
| Purchase price of property (£) | Rate payable on that part of price |
| 0 – 125,000 (£) | 0% |
| 125,001- 250,000 (£) | 2% |
| 250,001- 925,000(£) | 5% |
| 925,000 to 1,500,000 (£) | 10% |
| 1,500,000 and over (£) | 12% |
Rates on a second property priced over £40,000 are taxed as above plus an extra 3% on the total price.
Example – purchase price £510,000
0 – 125,000 = 0% = £0
125,001 to 250,000 = 2% = £2,500
250,001 to 510,000 = 5% = £13,000
Total tax due £15,500
Scotland
Scotland now uses it’s own Land and Buildings Transaction Tax system
Wales
Wales now uses it’s own Land and Buildings Transaction Tax system