|
When you buy a home, you usually have to pay a tax to the government. This tax is called Stamp Duty Land Tax. How much you pay depends on how much your home costs. The table below explains:
| Up
to £125,000 |
0% |
| £125,001
- £250,000* |
1% |
| £250,001
- £500,000 |
3% |
| £500,001+ |
4% |
*Until March 2012, first-time buyers do not have to pay any Stamp Duty Land Tax on homes up to £250,000.
Disadvantaged
areas
In some areas, which the government
describes as ‘disadvantaged’,
you don’t have to pay any stamp
duty land tax if the home you’re
buying costs £150,000 or less.
Find out more about ‘disadvantaged
areas’. |
