Stamp Duty is a government tax charged to the buyer only. Unless an exemption applies such as first time buyer, then they are liable to full stamp duty rate.
Ask your lawyer calculate the Stamp Duty tax you need to pay. They should be able to work this out when they send you their quote estimate. It is based on your purchase price. This is a tax form and if you instruct your solicitor to complete this for you then they will have the expertise to do this.
Stamp duty varies depending on the value of the property, and the capacity of the buyer. Properties under a certain value are stamp duty exempt, and others over a million pounds pay at the highest rate. If you own more than one property, then you will be liable to additional rate stamp duty tax.
Stamp duty becomes payable on completion if you have instructed your lawyer to complete your stamp duty form, and make payment. If you are completing your own stamp duty form as buyer, you will need to make payment prior to completion and obtain the the stamp duty office SDLT5 certificate of payment for your buyer solicitors to complete and submit your AP1 Land Registry as new owner within the priority period, failing which you risk being attacked by a fraudulent buyer taking illegal ownership.
How much do I pay to instruct my lawyer to complete my stamp duty tax form?
It depends on your lawyer. The charge will be contained in their terms, if not you must ask them. The benefit of they doing this for you is firstly, they take the time to do this and not you (it has some 70 questions listed); secondly, it does have penalty implications if it is incorrectly completed (so by paying your solicitor to do this for you, they, and not you, face the government penalty if they get it wrong).
