Taxes & Duty

Stamp duty is the tax you pay when you buy property or shares. You pay ‘Stamp Duty Land Tax’ when you buy property and either ‘Stamp Duty ‘ or ‘Stamp Duty Reserve Tax’ when you buy shares.

New thresholds introduced from 14th March 2010 mean that if you are a first time purchaser, and propose to purchase a residential property and not a buy to let property or commercial premises, and the purchase price is £250,000.00 or less, you do not pay any stamp duty land tax.

If the purchase price is more than £250,000.00, you will pay between one and four percent of the whole purchase price.

Property in disadvantaged areas

Properties bought in areas designated by the government as ‘disadvantaged’ have historically qualified for Disadvantaged Area Relief ( whereby the SDLT threshold was higher than for other residential properties ). This relief will not apply for property purchases between 03.09.08 and 02.09.09 inclusive.

Instead the Stamp Duty Land Tax threshold will be the same as for all other property shown above . The new threshold is higher than the previous Disadvantage Area Relief threshold of £150,000.00.

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