This is a tax charged on the purchase of a property and the amount of tax payable is dependent of the purchase price.

Property Purchase Price
£0 – £125,000 = 0%
£125,001 – £250,000 = 1%
£250,001 – £500,000 = 3%
£500,001 – £1 million = 4%
£1 million + = 5%

First time buyers
The first time buyer’s £250,000 threshold applies from 25 March 2010 up to 24 March 2012 inclusive.

There is no indication that this incentive will be extended.

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