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TonyTax
TonyTax, Tax Consultant
Category: Tax
Satisfied Customers: 15915
Experience:  Inc Tax, CGT, Corp Tax, IHT, VAT.
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How much is the stamp duty tax in the UK for value of of

Customer Question

How much is the stamp duty tax in the UK for value of of property worth GBP 275,000. This is will be my first purchase property in the UK and I intend to use it as a residential holiday home only. I am British citizen living and working in Dubai and I own my own home in Dubai
Submitted: 10 months ago.
Category: Tax
Expert:  TonyTax replied 10 months ago.

Hi. My name is*****'m looking at your question now and will post my answer or ask for more information here in a short while.

Expert:  TonyTax replied 10 months ago.

Where in the UK is the property?

Customer: replied 10 months ago.
It is in Burcot, Abingdon, OX4 3BY
Expert:  TonyTax replied 10 months ago.

Thanks. I only needed to know which of the 4 countries it was in.

A 3% surcharge on the regular stamp duty rates was introduced for post 1 April 2016 purchases of residential property where the buyer already owns a property no matter where in the world that is unless the new purchase is replacing a previous main home. Take a look at the consultation results HERE. Paragraphs 1.5 and 1.38 will be of relevance to you.

Using the calculator HERE, the stamp duty charge on a £275,000 purchase will be £12,000.

I hope this helps but let me know if you have any further questions.

TonyTax and other Tax Specialists are ready to help you
Customer: replied 10 months ago.
Thank you for your service . I got what I wanted to know
Expert:  TonyTax replied 10 months ago.

Thanks.

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