Stamp Duty Rates - How Is the Calculation

If you buy a house, you will be taxed stamp duty rates. And this tax known as stamp duty after official stamps used to certify payment is paid at different rates depending on the price of the property. The bad news is that this can be a big bill. Buy a house worth more than w 250,000 and must pay at least w 7,500. This calculator will show you how much you need to budget for if you want to stamp duty rates own your own home or move.

Stamp duty is levied on the purchase price of a property. When Gordon Brown in charge of the nation's finances Stamp Duty at a fixed rate of one per cent above w 60,000 . Additional levels were added 1.5 per cent over w 250,000 in 1997 and two per cent above w 500,000. As price inflation at home, Mr. Brown decided to upload more for the stamp duty rates new tax increase of three per cent above w 250,000 and four per cent over w 500,000 in 2000. The initial level of 1 percent was increased to its current level of w 125,000 in March 2006.

George Osborne raised the stamp duty of five per cent above 1 million pounds in 2011 and seven per cent stamp duty rates more than 2 million pounds in 2012. Despite the punitive upper bands have never increased with inflation seen large price of the house since its stamp duty rates introduction.