This took me a while to find even with Google’s help so I will put this up on my blog as it is something that is quite useful to know especially if your in the process of buying a new home.
If your a first time buyer then you get a nice break the rates are lower, with a first time buyer getting 0% on a property up to the value of £250k.
First Time Buyers
| Purchase price/lease premium or transfer value | Stamp Duty |
|---|---|
| Up to £250,000 (effective from 24th March 2010 until 24th March 2012) | 0% |
| Over £250,000 up to £500,000 | 3% |
| Over £500,000 up to £1,000,000 | 4% |
| Over £1,000,000 (effective from 6th April 2011 onwards) | 5% |
Property owner Stamp Duty Rates 2011
| Purchase price/lease premium or transfer value | Stamp Duty |
|---|---|
| Up to £125,000 (effective from 1st January 2010 onwards) | 0% |
| Over £125,000 up to £250,000 | 1% |
| Over £250,000 up to £500,000 | 3% |
| Over £500,000 up to £1,000,000 | 4% |
| Over £1,000,000 (effective from 6th April 2011 onwards) | 4% |
Correct as of the 8th November 2011