What is Stamp Duty Land Tax?
Stamp duty, or Stamp Duty Land Tax (SDLT), is a tax paid to the UK government by those who purchase property or land in England or Northern Ireland that exceeds a certain value. It is applicable to residential and commercial properties, whether these are freehold or leasehold, and should also be paid by those taking on a mortgage.
How much is stamp duty?
The cost of stamp duty is determined by certain criteria, such as how the property will be used, or whether the property purchaser is a first-time buyer, buying a second home or a non-UK resident. SDLT begins to apply if a property is valued over a certain threshold, with different amounts due for residential properties, those new to the market and the purchase of commercial premises.
How will a stamp duty calculator help me?
Lawsyst’s stamp duty calculator will help prospective UK property owners calculate how much stamp duty they can expect to pay on their purchase. This allows conveyancers to keep costs transparent and provide their clients with a full breakdown of the fees that will be incurred when taking on a mortgage or purchasing a property.
Do you offer other software for conveyancing solicitors?
Yes. Lawsyst has a number of other tools and systems to help conveyancers to help conveyancers streamline their internal processes, attract new clients and keep on top of their caseloads. These include a conveyancing calculator, support with document creation and tools for lead generation.
If there’s anything we haven’t covered here or you have any
specific questions about your account, just let us know and we’ll be happy to answer them. If
you’re not a customer yet but curious about our plans, contact
us