Stamp duty

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:

• Sale price
• SDLT
• £125,000 or below
• Nothing
• The next £125,000
• 2%
• The next £675,000
• 5%
• The next £575,000
• 10%
• Above £1.5m
• 12%

Example: You buy a property for £280,000. You pay:

• No SDLT on the first £125,000
• 2% on the next £125,000 (amounting to £2,500); and
• 5% on the remaining £30,000 (which equates to £1,500)

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.

When do you pay Stamp Duty?

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.