Stamp Duty on Residential Property Purchases, as of 4 December 2014, is now calculated at increasing rates for each portion of the price being paid, in a similar fashion to income tax.
In order to simplify the more complicated calculation, John Wilcox provide you with a ‘Stamp Duty Calculator’.
Enter the proposed price below to establish the tax payable on your purchase.
|Price bands||Pecentage rate||Taxable sum||Tax|
|Up to £125,000||0%|
|Above £125,000 and up to £250,000||2%|
|Above £250,000 and up to £925,000||5%|
|Above £925,000 and up to £1,500,000||10%|