Tax on Buying Property

If you buy a property in the UK over a certain purchase price you have to pay Stamp Duty Land Tax (SDLT) - previously known as Stamp Duty. This is charged on all purchases of houses, flats and other land and buildings.
What is Stamp Duty Land Tax?
SDLT replaced Stamp Duty in December 2003 and is a tax on the purchase price of land and buildings. When you buy a property you may have to pay SDLT.
Paying SDLT
You don't have to pay any SDLT on residential property costing £125,000 or less. Above this amount you pay between one and four per cent of the purchase price.