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How to calculate the Stamp Duty you’ll need to pay on a property.
When you buy a property in the UK (exc. Scotland) costing more than £125,000, you’ll have to pay Stamp Duty Land Tax (SDLT).
There’s a sliding scale of SDLT, payable on all property sales. The thresholds are as follows:
So the total amount of SDLT payable in this case would be £4,000.
Second homes or buy to let properties incur an additional SDLT levy of 3% on top of the above rates.
Your Stamp Duty is payable within 30 days of being able to take possession of your Bradford property. Your solicitor will usually arrange the payment.
Talk to us about buying property in Bradford. Call us today on 01274 720 900.