Stamp Duty is a tax charged on legal instruments in the UK. It was first introduced in England in 1694 and continues to this day through a series of Stamp Acts. The scope of stamp duty has been reduced dramatically in recent years. Apart from transfers of shares and securities, the issue of bearer instruments, and certain transactions involving partnerships, stamp duty was largely abolished in the UK from 1 December 2003. "Stamp duty land tax" (SDLT), a new transfer tax derived from stamp duty, was introduced for land transactions from 1 December 2003.

Stamp Duty is a tax you might have to pay if you buy a residential property or a piece of land in England or Northern Ireland over a certain price. You will pay Stamp Duty on residential properties costing more than £250,000, unless you qualify for first-time buyers relief. There are several rate bands for Stamp Duty. The tax is calculated on the part of the property purchase price falling within each band. The rate of Stamp Duty you pay depends on where in the UK youre buying a property. England and Northern Ireland have the same rates, while Scotland and Wales use different ones.

Here are some key points about Stamp Duty:

• Stamp Duty is a tax charged on legal instruments in the UK.
• Stamp Duty was first introduced in England in 1694 and continues to this day through a series of Stamp Acts.
• Apart from transfers of shares and securities, the issue of bearer instruments, and certain transactions involving partnerships, stamp duty was largely abolished in the UK from 1 December 2003.
• "Stamp duty land tax" (SDLT), a new transfer tax derived from stamp duty, was introduced for land transactions from 1 December 2003.
• You will pay Stamp Duty on residential properties costing more than £250,000, unless you qualify for first-time buyers relief.
• There are several rate bands for Stamp Duty. The tax is calculated on the part of the property purchase price falling within each band.
• The rate of Stamp Duty you pay depends on where in the UK youre buying a property. England and Northern Ireland have the same rates, while Scotland and Wales use different ones.

You can use HM Revenue and Customs’ (HMRC) Stamp Duty Land Tax calculator to work out how much tax you’ll pay.