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| Stamp Duty land tax is payable by the buyer of a property when a transfer of ownership occurs. As well as paying this tax a buyer is required to fill in a Land Transaction Return which is sent to the Inland revenue with any tax due.
Rates are as follows:
| Tax Rate
| Price of Property (General)
| Price of Property (Disadvantaged)
| | 0
| £0 - £125,000
| £0 - £150,000
| | 1%
| £125,001 - £250,000
| £150,001 - £250,000
| | 3%
| £250,001 - £500,000
| £250,001 - £500,000
| | 4%
| £500,001 +
| £500,001 +
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The government have named a number of 'disadvantaged' areas within Swansea, Neath and Port Talbot which benefit from zero Stamp Duty Land Tax on properties below £150,000. CLICK HERE to see the list of areas.
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