Buying Property in England? Be Informed About the Stamp Duty for UK

February 28th, 2009 by admin

Any time a person is looking to purchase a property of any kind, whether it be a home, free standing land, an apartment, or business suite, it is important to be aware of the taxes and fees that come along with making a major purchase such as this.  If you are buying property in England, for example, then you need to know about the Stamp Duty for UK.  This specific tax, known as the Stamp Duty Land Tax, is proportional to the value of the property purchased, as guided by a specified values and the percentage that will be taxed.  For example, for any home purchased of a value of £250,000 pounds or less, will be taxed at 1%, equaling £2,500 pounds of tax to be paid.

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