WHAT IS STAMP DUTY?

Wondering how much stamp duty you need to pay on your new home? Well, it depends on the value of the property. And with the current stamp duty holiday, there’s a good chance you won’t have to pay any at all. Stamp Duty is the tax (SDLT), charged by the government, which you pay on completion of the purchase of your new home. The amount of tax can vary depending on the value of the home you are buying.

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HOW DOES IT WORK?

Following the new Government announcement, between now and 31 March 2021 there will be NO STAMP DUTY payable on homes up to the value of £500,000 within England.

If your new home is worth more than £500,000 and you buy before 1st April 2021, you will only start to pay stamp duty on the amount that you pay for the property above £500,000.

*Stamp Duty savings applicable until 31st March 2021. Visit https://www.gov.uk/stamp-duty-land-tax for further details