Looking for a house has made me more interested in all the associated costs of home buying, which includes that lovely tax stamp duty.
In his recent budget, Gordon Brown changed the stamp duty rates to the following levels:
| Property Price | Stamp Duty |
|---|---|
| Up to £125,000 | 0% |
| £125,001 to £150,000 | 1% |
| £150,001 to £250,000 | 1% |
| £250,001 to £500,000 | 3% |
| Over £500,000 | 4% |
Unfortunately, you can’t currently rely on HM Revenue & Customs website for your information – their stamp duty rates appear to be well out of date.