How Much Is Stamp Duty?
Tax is payable when you purchase a property above a certain value. The amounts can be quite significant and you will have to factor this into your budget when considering how much deposit you need to buy a house. In England and Northern Ireland it’s called Stamp Duty Land Tax and is payable for purchases above £250,000, though currently first time buyers are exempt for properties up to £425,000.
A 3% surcharge for additional properties such as second homes or buy to let.
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