All Collections
Property
Property Purchase
What amount of stamp duty is required?
What amount of stamp duty is required?
Bhavita Patel avatar
Written by Bhavita Patel
Updated over a week ago

Stamp duty, or Stamp Duty Land Tax, is a tax applied to property purchases. The tax amount varies based on:

  • Property Value: Higher property values attract higher tax rates, while properties under a certain threshold may be exempt.

  • First-Time Buyers: If you're buying your first home, you might qualify for reduced stamp duty, depending on the property's value.

  • Ownership of Multiple Properties: Owning additional properties after this purchase could trigger an extra charge.

For comprehensive details, please consult the government's website. Your solicitor can also provide specific guidance.
โ€‹

Please note that although StrideUp co-purchases the property with you, as the homeowner, you are responsible for the stamp duty payment.

Did this answer your question?