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Currently first-time buyers pay no stamp duty when buying a home worth £425,000. This threshold will drop to £300,000, meaning they will go from paying nothing to paying £6,250 on stamp duty. In the article below, we’ll explain these changes in more detail, and how this could affect your move.
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Posted by u/Alfiedog100 - 24 votes and 35 comments
Aug 14, 2024 · A stamp duty—also known as a stamp tax or documentary stamp tax—is a tax that a government levies on documents that are required to legally record certain types of transactions.
People also ask
How do I calculate stamp duty land tax (SDLT)?
Are stamp duty land tax rates changing?
What is a stamp duty?
Do you pay stamp duty land tax if you buy a property?
Overview. You must pay Stamp Duty Land Tax (SDLT) if you buy a property or land over a certain price in England and Northern Ireland. The tax is different if the property or land is in:...