Yes. You will pay purchase tax which is a one-off payment of 1.5% of the purchase price of the property. The vendor pays the same amount ie.vendors tax. You will then pay property tax annually, which is 5% of the purchase price. This is normally due in January and can be paid all at once, or in two installments, January and June. There is also a community tax, which is for roads, street lighting, services and rubbish collection. This is now integrated in with the water bills, so there is no separate payment for this and is approximately £10-20 a year. There is also a small percentage of tax that should be paid if you are renting out your property.