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Stamp Duty

Stamp Duty

In other words

A tax charged on property purchases. Rises according to how expensive the property is. For homes of £60,000 or more, stamp duty

Definition

A tax charged on property purchases. Rises according to how expensive the property is. For homes of £60,000 or more, stamp duty is charged at 1%; for £250,000 or more, 3%; and for £500,000 or more, 4%.