How much is stamp duty now?
(Picture: Getty)  Stamp duty is a one-off tax you pay every time you buy a property or land in England and Northern Ireland. You only pay stamp duty when the property you buy costs over a certain amount. In July 2020, a stamp duty holiday was introduced to help buyers continue to purchase homes during the pandemic. The tax was removed (or significantly lessened) for houses costing up to 500,000. But that holiday is slowly ending, meaning if youre planning to buy in future  you may well need to pay stamp duty. Heres the latest on stamp duty prices (Picture: Getty)  At the time of writing (July 2, 2021), youll have to pay stamp duty on most properties. But the UK government has thresholds for when stamp duty payments come into action. Until October 1 2021, you wont pay stamp duty at all on residential properties (i.e. houses to live in) that cost under 250,000. Similarly, if you want to buy a non-residential property or a piece of land for less than 150,000  you wont pay either. From October 2 onwards, houses that cost 125,000 or less will be exempt from stamp duty. Everyone else well, youll probably have to pay some stamp duty. The costlier your house, the costlier the stamp duty (Picture: Getty)  Generally, you can expect to pay anywhere from 3% to 15% on the purchase price of the property. This only includes what the property costs after you take off the above thresholds. So, if your property costs 600,000 and youre buying in July 2021, you wont pay stamp duty on the first 250,000. If it costs 600,000 and youre buying in November 2021, you wont pay stamp duty on the first 125,000. This is a rough estimation  and lots of factors will play in to how much you end up paying. Most houses come with a stamp duty tax payment (Picture: Getty)  The more expensive the house is, the more stamp duty you are likely to pay. And if its your second property, for example, youll pay a higher rate than if its your first property. HMRC have a stamp duty calculator, which asks you questions about the type of property youre buying and your homeowner status. Considerations include what type of property you are buying, whether its leasehold or freehold, who you are and how many properties you own, the date the sale will complete, and so on. From July 2021, first-time buyers purchasing their first home to live in for 500,000 or less will get some relief from stamp duty (either none at all, or a lower payment). For example, a 350,000 property for bought in November 2021 by first-time buyers, who plan to live in the home, will come with around 2,500 of stamp duty. Money Saving Expert also has a useful stamp duty calculator. MORE : Discover the fixer-uppers on sale around the UK that are perfect for a big property project  Follow Metro across our social channels, on Facebook, Twitter and Instagram  Share your views in the comments below