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How much stamp duty will I pay?

Someone was telling me about the new stamp duty changes. I'm a current home-owner, I've got a one bedroom flat in Barnet, and I was wondering if that'll affect how much stamp duty I have to pay?

Asked on Sep 8 2016, Home Finance in London | Report content

Answers (3)

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  • Hi. The new Stamp Duty surcharges will only affect you if you're buying an additional home. It's charged on top of your Stamp Duty Land Tax (SDLT) with the amount depending on the value of your property. You can get a longer explanation and a better idea of whether it'll effect you in the article below. Many thanks, Dan

    Web reference: https://www.zoopla.co.uk/discover/buying/q-a-new-3-stamp-d...

    Answered on Sep 12 2016, Report content
  • Current homeowners will only be affected by the new stamp duty changes if they’re planning to invest in a second property. As of the 1st of April 2016, all additional properties bought over £40,000 have seen a 3% increase on stamp duty tax. For example, properties within the £40-125k have risen from 0%-3%, and properties within the £125 - £250k have risen from 2%-5%. For those who have partial shares in second properties or holiday homes, how much stamp duty you pay will depend on your individual share value. As long as your share is over £40,000, you will be affected by the extra 3% stamp duty. For those still asking, ‘how much stamp duty should I pay?’ you can call the HMRC Stamp Duty Helpline on 0300 200 3510.

    Web reference: http://zo.op.la/c6LJRX

    Answered on Mar 27 2018, Report content
  • Sorry, the correct reference for my answer is below.

    Web reference: http://zo.op.la/e8gyPz

    Answered on Apr 12 2018, Report content

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