What stamp duty is payable on a freehold purchase?
On a freehold purchase stamp duty is payable on the market value of the property on the following accumulative scale: 0.5% on the first £50,000 of value 1.5% on the band between £50,000 and £300,000 2% on the band between £300,000 and £500,000 2.5% on the band between £500,000 and £700,000 3% on the value above £700,000 Thus, on a property where the market value is in excess of £700,000 stamp duty on the purchase is £13,000 on the first £700,000 of value and 3% on the balance. In addition, to the above document duty of £50 and Jurat stamps of £20 are also payable. Click here to use our Freehold Purchase stamp duty calculator. In addition, stamp duty of 0.5% is chargeable on the amount of any secured borrowing over Jersey real estate. As well as the above document duty of £50 is also payable. Click here use our Borrowing stamp duty calculator.
