Stamp duty: What is it and how much is it?

Getty ImagesStamp duty is a tax paid by most home buyers in England and Northern Ireland, with Scotland and Wales having similar levies, but its future has been the subject of much speculation.The Institute for Fiscal Studies, an independent economic think tank, has described the duty as "one of the most economically damaging taxes".In October, Kemi Badenoch said a future Conservative government would abolish…