Stamp Duty

This is a charge levied by HM Government on house purchases.
There is a sliding scale of stamp duty depending upon the value of the property you are buying:
Up to £125,000 – nil
£125,001 to £250,000 – 1% of the purchase price of the property
£250,001 to £500,000 – 3% of the purchase price of the property
£500,000 to £1,000,000 – 4% of the purchase price of the property
£1,000,001 to £2,000,000 – 5% of the purchase price of the property
£2,000,001 or more – 7% of the purchase price of the property
Over £2 million (purchased by certain persons including corporate bodies) – 15% of the purchase price of the property