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www.propertysurveying.co.uk Stamp Duty Explained |
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NEED A HOUSE, BUILDING SURVEY, HOMEBUYERS REPORT, VALUATION OR PROPERTY ADVICE CLICK ON THE LINKS BELOW
The Chartered Surveyors contactable via this page generally perform Building Surveys, major defects surveys, homebuyers reports or house buyer reports, valuations or single fault assessments. Some carry out photographic inspections and assessments of properties for purchasers at the same time as carrying out building surveys or other reports. (Building Surveys were formerly called structural surveys but the RICS changed their name.)
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Stamp Duty Land Tax when you buy property You pay Stamp Duty Land Tax on Property like houses, flats, other buildings and land. If the purchase price is £125,000 or less (effective 23 March 2006), you don’t pay any Stamp Duty Land Tax at all. If it’s more than £125,000, you pay between 1 and 4 per cent of the whole purchase price, on a sliding scale.
To check whether the property you are proposing to buy is in a qualifying area we recommend you check this with the HMRC Exempt Stamp Duty Qualifying Areas on their website and through your solicitor. Use the Stamp Duty Tax Calculator on HMRC website More information can be found on the HMRC website. We recommend that you check that these rates and guidelines have not been changed since this article was written by contacting the Her Majesty’s Revenue and Customs. The home page for Stamp Duty information can be located by clicking on this link.
More Useful Property Advice articles will be added here in due course. If you have any questions on property matters or proposals for advice articles, do not hesitate to write to us via the Contact Us page. |
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