When is Stamp Duty Land Tax payable?
Stamp Duty Land tax is payable on completion of your purchase. We shall send the signed Land Transaction Return to the Inland Revenue with a cheque for the tax payable.
How is Stamp Duty Land Tax worked out?
This is calculated on the price of the property as a percentage of the purchase
If you are buying a property for less than £170,000 and the property falls within an area known as a “disadvantaged area”, you do not need to pay it. There are discounts available for certain circumstances too.
If you are purchasing a new long leasehold property, the tax may also be payable on the rent element of the Lease
You can find a calculator on the Government website.
For more information, please contact our Residential Conveyancing team on 01332 340 211.