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Stamp Duty Land Tax is a tax paid to the Government when you purchase a property and is applied on a sliding scale % basis of the value of the property. If the price is £125,000 or less you don’t pay Stamp Duty at all. If it’s more than £125,000, you pay between one and four per cent of the whole purchase price. The fee scale is as follows;
Residential property
purchase price |
Rate of Stamp
Duty Land tax |
Up to £125,000
|
0% |
£125,001 - £250,000
|
1% |
| £250,001 - £500,000 |
3% |
| £500,001 or more |
4% |
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