Stamp Duty Land Tax

Stamp duty tax is a tax you must pay if you purchase property or land over a certain threshold. The purchasing of the stamp duty is required for the HMRC to send and official receipt to the Land Registry in order for them to issue the certificate of registered ownership. The threshold for residential is £125,000 and £150,000 for non-residential.

You will pay tax if you:

  • Buy a freehold property;
  • Buy a new or existing leasehold;
  • Buy a property through a shared ownership scheme; or
  • If you are transferred property or land in exchange of payment.

Stamp duty tax rates depend on whether you are making a purchase for residential or non-residential. You must send your stamp duty land tax within 30 days of completion. If your property is under the threshold, you will still need to submit the letter as a formality.

Stamp duty land tax does not apply in Scotland. Instead you would pay land and buildings transactional tax. If you are thinking of purchasing in Scotland, the above will not apply.

If you are enquiring about stamp duty land tax, please feel free to call us at Bloomsbury Law where we can put you in touch with one of our tax specialists. We have years of experience in the field and look forward to advising you.

What do I do next?

Contact us online or speak to one of our dedicated specialists on 0207 998 7777 for a free initial consultation. With our vast experience in the field, our bilingual speaking team will work with you to ensure this process runs as smooth as possible. All information you provide us with is treated with the utmost confidentiality.

We will contact you no later than the next working day to arrange a meeting at our offices in London W1 to advise on the agreement.

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