Stamp Duty Land Tax (SDLT) is a statutory tax payable to the government when buying property and land in the UK. Since December 2014, the tax is only payable on the part of the property price within each tax band (similar to how income tax is calculated). Introduced in April 2016, Buy-to-Let or Second Home rates are charged at 3% above SDLT.
Up to Â£125,000
Above Â£125,000 to Â£250,000
Above Â£250,000 to Â£925,000
Above Â£925,000 to Â£1,500,000
Your conveyancing solicitor will arrange payment, within 30 days of the completion of your purchase.