Stamp Duty is where you might pay a tax if you buy a resedential property or a piece of land in England or Nothern Ireland. Are you buying your main property up until 31st March 2021? Then you won’t have to pay Stamp Duty on properties that cost up to £500,000, this applies whether you are first time buyer or have previously owned a property.
Stamp Duty is dealt with your solicitor who will help you with Stamp Duty return and notify you of any payment that is due. You are responsible however for making sure that everything is submitted on time and ensuring that payments are made.
You can calculate Stamp Duty by using an online calculator as there are different rate bands for Stamp Duty, the rate ranges from 2% to 12% of the purchase price which also depends on the property value that you bought, the date of purchase and whether you are a first time buyer or a previous buyer.
The holiday of Stamp Duty will end on 31st March, it has resulted in a backlog of sales that are waiting to be completed.
If you have any queries about Stamp Duty or any service we offer, contact us by phone at 01924 489197 or email at nick@haighssolicitors.co.uk, we will be more than happy to help you with anything you need.
