Stamp Duty

This is a government tax charged on properties with a purchase price in excess of £125,000.

Properties are charged:

• 1% from £125,001 to £250,000
• 3% from £250,001 to £500,000
• 4% above £500,001 to £1 million
• 5% above £1 million to £2 million
• 7% above £2 million

It is not payable on remortgages.

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