Before the 4th December 2014, Stamp Duty Land Tax (SDLT) was charged as a single percentage of the property price, now as with most payable taxes the cost will scale depending on the portion of the purchase price that falls into each rate band as follows:
Purchase Price | Rate of tax payable |
---|---|
£0 - £125,000 | 0% |
£125,001 - £250,000 | 2% | £250,001 - £925,000 | 5% |
£925,001 - £1,500,000 | 10% |
Over £1,500,000 | 12% |
You can use the following calculator to work out how much you will have to budget.
The calculator works out the Stamp Duty Land Tax (SDLT) you'll have to pay for residential purchases (including lease premium) using new rules effective from 4 December 2014.
36 Town Street,
Farsley,
Leeds,
LS28 5LD
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Tel: 0113 204 0322
info@julieshomes.co.uk