In England and Northern Ireland it’s called Stamp Duty Land Tax and is payable for purchases above £125,000, though currently first time buyers are exempt for properties up to £300,000.
In Scotland the Land & Buildings Transaction Tax applies to properties over £145,000. The Scottish Government’s Draft Budget contains a proposal to waive LBTT for first time buyers up to £175,000 from 1st April.
From 1st April 2018 Wales gains control of her own rates (the Land Transaction Tax) which will apply to properties over £180,000. We’ve already updated our calculator to show the new rates for Wales, though any purchases completing before 1st April will be treated the same as English properties.
All regions impose a 3% surcharge for additional properties such as second homes or buy to let
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