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How much is Stamp duty?

I own a property I rent out and am looking to buy another property as my residence and want to know how much stamp duty I will be paying on this second house.

Asked on Jul 25 2017, Selling in Gloucestershire | Report content

Answers (4)

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  • Hello - the level of Stamp Duty will be based on the value of the property but, as it will be your residence, you will not have to pay the tax.

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

    Answered on Jul 31 2017, Report content
  • If you're moving house (your main residence) then the additional 3% stamp duty does not apply, even if you have other BTL properties. Double check this with your solicitor.

    Web reference: https://www.gov.uk/stamp-duty-land-tax/residential-proper...

    Answered on Aug 2 2017, Report content
  • Stamp duty is a tax payable on all primary residences worth over £125,000. It doesn’t matter if you are paying off your property with a mortgage or if you bought it outright, all owners must pay a stamp duty with the exception being first time buyers who can expect a discount or waiver depending on their property value. As for additional properties, if it is worth more than £40,000 you will have to pay a 30% stamp duty on it, even if you don’t live there, rent it out or spend only a few months of the year there.

    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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