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What's stamp duty?

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

Currently, property buyers must pay Stamp Duty Land Tax if they buy a property or land over £500,000.

The Government's extended stamp duty holiday means that there will be no stamp duty payable on the first £500,000 of all property purchases in England and Northern Ireland until the 30th June 2021.   After that the rates will change so that properties below £250,000 will be stamp duty free until 30th September 2021, and thereafter the normal £125,000 threshold will apply.

This is for both first time buyers and those moving home.

For example, if the property is worth £350,000.00 the buyer will pay £0. 
If the property value is £650,000 the buyer will pay 5% (£7,500) on £150,000

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Stamp Duty Rates Breakdown

Stamp Duty Rates for everyone

  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 £500,000  0%   3% 
 £500,000.01 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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