This page will inform you about the new Stamp Duty Land Tax changes for first-time buyers.

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 (22 November onwards)

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 (22 November onwards)

  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.