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The Mortgage Route A to Z
Stamp duty

This glossary or A to Z should help clear up any confusion as to what terms mean what in the mortgage and insurance industry

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Letter S

Stamp duty

Government land tax of charged as a percentage of the purchase price of a property. Charged on all property purchases over 60,000, percentage varies by price.

To find out how much is stamp duty or how much will your stamp duty cost please use the little table below.

At time of writing as of the 5th of April 2003 budget the rates were as follows:-

  • 0 60,000 0% of transfer
  • 60,000 250,000 1% of transfer
  • 250,0015000,000 3% of transfer
  • 500,000 + 4% of transfer

In addition there are also tax exempt areas. These are areas ear-marked by the government for development and no stamp duty is due on property up to the value of 150,000 for more information on whether your area qualifies please see the Inland Revenues site at http://www.inlandrevenue.gov.uk/so/disadvantaged.htm were you will also find an area search tool.

For more detailed information on stamp duty in general please see the Inland Revenues site at http://www.inlandrevenue.gov.uk/rates/stamprates.htm

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