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Stamp Duty

What's stamp duty?

Stamp Duty Land Tax (SDLT) is a tax added on all land transactions in England, Wales and Northern Ireland.

Property buyers must pay Stamp Duty Land Tax if:

  • the buy a property or land over £125,000
  • the purchase of a non-residential property or land over £150,000

If you're a first-time buyer, there's some good news for you!

From 22nd November 2017, most first-time buyers would be exempt from paying stamp duty, if they meet the following conditions:

  • the purchase price of the property is under £300,000
  • the people purchasing the property must be first-time buyers

If the property is worth between £300,00.01 - £500,000, a first-time buyer will qualify for 0% stamp duty on the £300,00.00 but must pay 5% stamp duty after that.

Autumn Budget 2017: Stamp Duty Land Tax Changes for First Time Buyers 

Autumn Budget 2017: First Time Buyers won't buy stamp duty on properties purchased under £300,000. Any properties between £300,000 - £500,000 the first time buyer will pay 5% on that portion of the property

For example, if the property is worth £350,000.00 the buyer will pay 5% (£2,500) on £50,000.00.
If a first-time buyer’s purchase price is over £500,000, there will be no discount on Stamp Duty Land Tax.

Stamp Duty Rates Breakdown

Stamp Duty Rates for first-time buyers under £500,000

Purchase Price Stamp Duty % you pay within each portion of the purchase price
Up to £300,000 0% (on that portion of the purchase price)
£300,000.01 to £500,000 5% (on that portion of the purchase price)

Stamp Duty Rates for everyone else

  Stamp Duty % you pay within each portion of the purchase price
Purchase Price  For first time buyers over £500,000 and non-first-time buyers

 For additional home buyers
 Up to £125,000  0%   3% 
 £125,000.01 to £250,000  2%  5% 
 £250,000.01 to £925,000  5%   8%
 £925,000.01 to £1.5 million   10%   13%
 Above £1.5 million  12%   15%

Find out how much stamp duty you will pay with our handy stamp duty calculator.

If you would like to talk to one of our property team about your property purchase please call 0330 017 6309

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