Stamp duty

Stamp duty is the tax paid by the purchaser when buying a property, at the time of purchase. Currently for properties purchased up to £125,000 the rate is 0%, from £125,000-£250,000 2%, £250,000-£925,000 5%, £925,000-£1.5million 10% and above this at 12%. There is a discount for first time buyers where they pay 0% up to £300,000 and then only 5% from £300,000-£500,000.