Stamp duty explained

By THIS IS MONEY
Updated:

 

COULD you clarify the stamp duty charges on property over £250,000? I have looked on three sites and found different rates. SM, Swansea.

Linda Whitney says: The confusion may have arisen because stamp duty changed as of 28 March, 2000.

The duty on a property worth over £250,000 but not more than £500,000 is now 3% (the old rate was 2.5%). But the 2001 Budget introduced stamp duty exemption for property transactions in the UK's most disadvantaged areas. For the full works on stamp duty rates see www.inlandrevenue.gov.uk.

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