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Daily Mirror
Daily Mirror
Business
Levi Winchester

What is stamp duty, how much is it - and is it being cut this week?

Stamp duty is a tax charged when you buy a property - and it can add thousands of pounds to your overall bill.

It applies all across the UK, although it is called “land and buildings transaction tax” in Scotland and “land transaction tax” in Wales.

You only pay stamp duty over a certain threshold, with first-time buyers being given a bigger discount.

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