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Stamp Duty Guide

You must pay Stamp Duty Land Tax (SDLT) if you buy a property or land over a certain price in England, Wales and Northern Ireland.

The current SDLT threshold is £125,000 for residential properties and £150,000 for non-residential land and properties.  The tax is paid to HMRC on completion by your solicitor who normally requests you transfer funds to them the week before in the same transfer as their final fees.

First time buyers pay a reduced rate from November 2017.  For purchases up to £500,000, no stamp duty is paid on the first £300,000 of the agreed price.

Changes for Second Homes & Buy to Let

As of April 1st 2016 the stamp duty levels increased for investors purchasing buy-to-let property and other second properties, such as holiday homes or where they let their current home to buy a new one, in which owners do not intend to live full-time.  

For example:

Property Value

Basic Rate

Incl Additional Property Rate

Increase

£250,000

£2,500

£10,000

£7,500

£500,000

£15,000

£30,000

£15,000

£750,000

£27,500

£50,000

£22,500

£1,000,000

£43,750

£73,750

£30,000

Stamp Duty Calculator

Stamp Duty Bands & Rates

STANDARD THRESHOLDS FOR REGULAR PURCHASES

PURCHASE PRICE UNDER £125,000

No stamp duty is charged on properties under £125,000, albeit in London that will now be very few properties.

PURCHASE PRICE BETWEEN £125,001 AND £250,000

Buyers don’t pay stamp duty on the first £125,000, however they pay 2% on the remainder of the property price up to £250,000.

PURCHASE PRICE BETWEEN £250,001 AND £925,000

Buyers pay 5% SDLT on the portion of the price between £250,001 and £900,000.

PURCHASE PRICE OVER £925,000 

Buyers pay 10% SDLT on the portion between £925,001 and £1.5 million; and then 12% on the portion over £1.5 million.

SECOND HOMES AND BUY-TO-LET

An additional 3% is paid on any purchase over and above the standard rates above.

FIRST TIME BUYERS

On purchases up to £500,000, a new threshold of £300,000 has been introduced for first time buyers where up to this, no stamp duty is paid, however they pay 2% on the remainder of the property price up to £500,000.  On purchases over £500,000 normal rates of stamp duty apply.

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