Stamp Duty on buying land?

butch · Apprentice Joined: 07 Oct 2007 Posts: 10

Hello, guys. I have earned a certain amount of money and I would like to buy a land. I think it is a good investment. I would like to hear what my stamp duty will be on buying land. What do you know about this? I would appreciate your efforts in answering my post. Thanks in advance.

trumaine · Apprentice Joined: 20 May 2004 Posts: 10

Hello. I agree with you it is a good investment. When you buy land, you pay Stamp Duty Land Tax. If the property you want to buy is cheaper than £125.000, then you don’t pay any. If it costs less than £250.000, then you will pay 1%. 3% is for the price less than £500.000 and if the price is bigger, then it is 4%. If your land is on the field that was marked as “disadvantaged” by a government, then you won’t pay Stamp Duty Land Tax if the land is worth less than £150.000. You don’t have to send your documents to Stamp Office. You just have to sign a new form. It is called a land transaction return. I hope I have helped you a little. Good luck!