Why is a stamp duty form fee included within my quotation?
Although you may be exempt from paying stamp duty we are still required to complete a return to HM Revenue and Customs to notify them that the purchase has taken place.
In some cases it is also required for us to obtain the funds from your mortgage lender and therefore complete on your purchase.
Why is a stamp duty form fee included within my quotation – The SDLT Holiday means you still have relief up to £250,000.
Rates from 1st July 2021 to 30th September 2021.
| Property or lease premium or transfer value | SDLT Rate |
|---|---|
| Up to £250,000 | 0% |
| The next £675,000 (the portion from £250,001 to £925,000) | 5% |
| The next £575,000 (the portion from £925,001 to £1.5 million) | 10% |
| The remaining amount (the portion above £1.5 million) | 12% |
What if I am a higher ratepayer?
Higher rates from 1st July 2021 to 30th September 2021.
| Property or lease premium or transfer value | SDLT Rate |
|---|---|
| Up to £250,000 | 3% |
| The next £675,000 (the portion from £250,001 to £925,000) | 8% |
| The next £575,000 (the portion from £925,001 to £1.5 million) | 13% |
| The remaining amount (the portion above £1.5 million) | 15% |
What if I am a First-Time Buyer?
In England and Northern Ireland, you will pay no SDLT on properties worth up to £300,000. For properties up to £500,000, you will pay no SDLT on the first £300,000 but will then pay 5% on the remaining amount. If the property you’re buying is worth over £500,000, you will need to pay the standard rates of Stamp Duty and won’t qualify for first-time buyer’s relief.
If you wish to check your SDLT amount then please use the following calculator: https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro
Our FAQ and articles are correct at the time of writing.
These have been created for marketing purposes only and should not be considered as legal advice.
