What are the rules if you’re not classified as a first time buyer or if the property you are purchasing is more than £500,000?

In this case you will apply the stepped stamp duty formula for the various proportion of the price of the property.

Add them all together to get your total stamp duty liability.

  • Up to £125,000 purchase price:0% stamp duty
  • £125,000.01 to £250,000:2% (on that portion of the purchase price)
  • £250,000.01 to £925,000:5% (on that portion of the purchase price)
  • £925,000.01 to £1,500,000: 10% (on that portion of the purchase price)
  • £1,500,000.01+:12% (on that portion of the purchase price)

Looking to move house? Contact Mayers Real Estate.

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