Okuzeka
Real Estate vocabulary · Fees, Costs & Taxes

Stamp duty

Meaning in real estate, with examples

nounCommon term

In real estate, stamp duty means: A tax paid in England and Northern Ireland by people who buy property or land above a certain price. Its full name is Stamp Duty Land Tax (SDLT).

In Turkish: damga vergisi, mülk alım vergisi

How it is used

Rates rise in bands with the price, and second homes and buy-to-let properties usually pay more. The buyer's solicitor normally calculates and pays it after completion. Scotland and Wales have their own similar taxes.

Example sentences

  1. First-time buyers may pay less stamp duty, or none, on cheaper homes.

  2. Our solicitor paid the stamp duty a few days after completion.

Common collocations

  • pay stamp duty
  • stamp duty bill
  • stamp duty relief
  • stamp duty threshold
  • transfer taxA tax charged when ownership of a property passes from one person to another, usually calculated as a percentage of the price.
  • closing costsThe fees and charges paid when a property sale is completed, on top of the price, such as lender fees, title insurance, taxes and legal costs.
  • buy-to-letBuying a property in order to rent it out to tenants, or a property bought for this purpose.
  • conveyancingThe legal work involved in transferring ownership of a property from seller to buyer, from checking the title to registering the new owner.

More terms: Fees, Costs & Taxes

Practise with graded reading

Reading at the right level is the fastest way to make new words stick. Pick free English books by level: