The tax when buying a property

What is stamp duty?

It’s the tax you might have to pay to the government to say you now own a property. When you buy a home, you have to pay a percentage of the property value to the government.

You have to factor it into your budget. But if you’re a first time buyer the good news is that you won’t pay a penny if your purchase is below £425,000. If you’re moving home you will have to pay a percentage over £250,000. For buy to let landlords and investors you have to start paying from £40,000.

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