Stamp Duty

29th May 2011

Stamp Duty is payable on properties which are bought for more than £125,000.  The rate varies according to the price paid and whether the property is residential or commercial.  The amount due is calculated on the full price of the property and not just the amount in excess of £125,000.  There are some reliefs, for example a first time buyer will not pay stamp duty on a property bought for less than £250,000 saving up to £2,500.  At the moment this relief is available until the 31st December 2011.

 If you would like more information on this point please telephone us and ask to speak to Sharon Clarke