Stamp Duty - work out how much you would pay
Stamp Duty is the tax payable to the government when you buy a property. Generally, it only kicks in for properties worth £125,000 or more.
First time buyers
First time buyers benefit from a special exemption from stamp duty if the property due to be bought is below a £250,000 threshold. This only applies if you have never owned a property, house or flat in the UK or anywhere else in the world. If you plan to buy with another person they must also have never have owned property before either. The First time buyer threshold applies to purchases made on or after 25 March 2010 and before 25 March 2012.
The stamp duty concession afforded to first time buyers will end in March 2012.
The amount due is a percentage of the purchase value, but works in steps accordingly:
| Value of Property | Tax Rate | First Time Buyers |
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| £125,000 or less | 0% | 0% |
| £125,001 to £250,000 | 1% | 0% |
| £250,001 to £500,000 | 3% | 3% |
| £500,001 to £1,000,000 | 4% | 4% |
| £1,000,000 + | 5% | 5% |
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Use the calculator below to work out how much stamp duty you are likely to have to pay, based on the property value and whether you are buying for the first time.
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