Stamp Duty: What You Need to Know
Buying a home is an exciting milestone, but it often comes with additional costs, including stamp duty.
What is Stamp Duty?
Stamp duty is a tax levied by governments on the purchase of property and land. It's typically paid by the buyer, although regulations may vary by region.
How is Stamp Duty Calculated?
The amount of stamp duty you'll pay depends on various factors, such as the property's value, whether it's your primary residence and the location. Rates are typically progressive, meaning that the percentage increases as the property value rises.
How much stamp duty will I have to pay when buying a residential property?
Tax Band - Up to £250,000 - Normal Rate 0% Additional Property 3%
From 250,001 to £925,000 5% 8%
From £925,001 to £1.5million 10% 13%
Above £1.5 million 12% 15%
Here at Baker Estates, we understand the financial commitment of purchasing a home. To ease the burden for buyers and for a limited time only* we are offering to pay the stamp duty on selected homes across our developments.
To learn more about our special promotion and to find out which plots qualify for this incredible opportunity, please click the links below.
Utilizing a Stamp Duty Calculator
Why Use a Stamp Duty Calculator?
A stamp duty calculator provides an estimate of how much you'll need to budget for this tax. It's an invaluable tool in the early stages of the home-buying process.
*Limited-time offer, terms and conditions apply