Stamp Duty - How is it calculated?

A handy online guide to what you need to know about how much tax you will have to pay for your dream home.

Stamp duty is a land tax and is a lump sum payment for anyone buying property over a certain price.

The rates do vary according to the price you pay for the property.

In 2017 Philip Hammond re-vamped the stamp duty payable for first time buyers and these have now become exempt from paying any duty on properties sold under £300,000.

Rates are different depending on whether it is a residential home, a second property or a buy-to-let.

The government provides a calcualtor to let you know how much you would have to pay when purchasing a property.