Stamp Duty Rates

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If you are looking to buy property in the UK then you will need to be aware of Stamp Duty Rates or Land Tax Stamp Duty (SDLT) and budget this cost into your house buying purchase costs.

The Current rates of Stamp Duty for 2011 are as follows:

First time buyer Stamp Duty Rates:

Purchase price/lease premium or transfer value - SDLT rate 

  
Up to £250,000 (effective from 24th March 2010 until 24th March 2012) - 0% 
Over £250,000 to £500,000 - 3% 
Over £500,000 - 4% 
Over £1,000,000 (effective from 6th April 2011 onwards) - 5% 
       

  
Current property owner Stamp Duty Rates:

Purchase price/lease premium or transfer value - SDLT rate 

  
Up to £125,000 (effective from 1st January 2010 onwards) - 0% 
Over £125,000 to £250,000 - 1% 
Over £250,000 to £500,000 - 3% 
Over £500,000 - 4% 
Over £1,000,000 (effective from 6th April 2011 onwards) - 5% 

Useful external links regarding Stamp Duty

Wikipaedia - Stamp Duty in the United Kingdom

Land Registry - Stamp Duty Legislation

HMRC - Stamp Duty Rates

First time buyers tips - Stamp Duty