How is this calculated?
Under the new rules from 4 December, you may pay Stamp Duty at several different rates, depending on the purchase price. Under the old rules, there were several different Stamp Duty rates, but you, as a homebuyer, paid the same rate on the whole purchase price.
Purchase price of property |
Rate of Stamp Duty |
£0 - £500,000 |
0% |
£500,001 - £925,000 |
5% |
£925,001 - £1.5 million |
10% |
Over £1.5 million |
12% |