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What property tax do I need to pay?

There are different forms of property tax that needs to be considered when selling and purchasing a property – Stamp Duty Land Tax and Capital Gain Tax.

Stamp Duty Land Tax

Stamp Duty Land Tax is a lump sum of money that is paid when  purchasing  a property for £125,000 or more, however if you are a first time buyer Stamp Duty isn’t due for any purchase under £300,000. The government provides a Stamp Duty Land Tax calculator.

Click here for further information regarding Stamp Duty Land Tax.

Capital Gains Tax

Capital Gains Tax may apply when selling a property, however there are circumstances where this tax does not apply. "You don't pay Capital Gains Tax when you sell (or 'dispose of') your home if all of the following apply:

  • you've lived in it as your main home for all the time you've owned it
  • you haven't let part of it out or used part of it for business only
  • he grounds, including the buildings, are smaller than 5,000 square metres (just over an acre). “

Click here for further information regarding Capital Gains Tax.


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