You must pay Stamp Duty Land Tax if you buy property or land over a certain price in England. The tax is different if the property or land is in Scotland, you pay Land and Buildings Transaction Tax. In Wales, you pay Land Transaction Tax. You pay the tax when you buy a freehold property or buy a new or existing leasehold, by a property through a shared ownership scheme or if you’ve transferred land or property in exchange for payment. If you’re buying a residential property there are different rates of SDLT, which is Stamp Duty. If you are a first-time buyer, if you already own a property and you’re buying an additional property, or you are not a UK resident.
