Stamp Duty Land Tax
Stamp Duty Land Tax
You pay Stamp Duty Land Tax (SDLT) on increasing portions of the property price when you buy residential property, for example a house or flat. SDLT only applies to properties over a certain value.
What is it?
In England and Northern Ireland, Stamp Duty Land Tax is a levy on home and land purchases. It is a cost that buyers have to pay if the transaction value exceeds a certain amount.
How does it work?
Following the government Stamp Duty Cut announcement on Friday 23rd September and effective immediately, the cut comes in the form of increased thresholds. These have been outlined below:
First Time Buyers
| Property or lease premium or transfer value | SDLT rate |
|---|---|
| Up to £425,000 | Zero |
| From £425,001 to £625,000) | 5% |
If the price is over £625,000, you cannot claim the relief. Follow the rules for people who’ve bought a home before.
Second Steppers (Single Property)
If the property you’re buying is replacing your main residence and that has already been sold, the below rates will apply.
| Property or lease premium or transfer value | SDLT rate |
|---|---|
| Up to £250,000 | Zero |
| The next £675,000 (the portion from £250,001 to £925,000) | 5% |
| The next £575,000 (the portion from £925,001 to £1.5 million) | 10% |
| The remaining amount (the portion above £1.5 million) | 12% |
Additional Properties
You’ll have to pay 3% on top of SDLT rates if buying a new residential property means you’ll own more than one.
| Property or lease premium or transfer value | SDLT rate |
|---|---|
| Up to £250,000 | 3% |
| The next £675,000 (the portion from £250,001 to £925,000) | 8% |
| The next £575,000 (the portion from £925,001 to £1.5 million) | 13% |
| The remaining amount (the portion above £1.5 million) | 15% |
Calculator
- Standard
- First time buyer
- Second home
- Buy to let
Stamp duty payable:
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