Q:

Do you pay stamp duty when you sell a property?

A:

Quick Answer

Stamp duty land tax is paid by the buyer of a property on a transaction of more than 125,000 British pounds. The stamp duty tax charged is typically between 1 percent and 7 percent of the entire purchase price.

Continue Reading

Full Answer

Stamp duty land tax is not paid on property transactions of 125,000 British pounds or less. Stamp duty land tax is applicable on transactions where property is not purchased but is swapped or transferred for other holdings of value. Other holdings of value include stocks, other properties, shares or anything else that is considered to be of economic value. The percentage of stamp duty land tax paid equals the amount that would be paid if the property was purchased outright.

Learn more about Real Estate
Sources:

Related Questions

Explore