What is Stamp Duty?
Stamp Duty Land Tax (SDLT) is a tax you might have to pay when buying a property or a piece of land.
The amount you pay depends on:
- when you bought the property
- how much you paid for it
- tax relief/exemption eligibility
Are you looking to buy?
The current Stamp Duty thresholds, which were raised back in 2022 to help alleviate the tax burden on homebuyers, will revert to pre-2022 levels! It is important you understand these updates and plan accordingly, if you're looking to purchase your next home any time soon.
Current Stamp Duty thresholds (until March 31st, 2025):
- Up to £125,000: 0%
- £125,001 to £250,000: 0%
- £250,001 to £925,000: 5%
- £925,001 to £1.5 million: 10%
- Above £1.5 million: 12%
New thresholds (effective April 1st, 2025):
- Up to £125,000: 0%
- £125,001 to £250,000: 2%
- £250,001 to £925,000: 5%
- £925,001 to £1.5 million: 10%
- Above £1.5 million: 12%
Are you a First-Time-Buyer?
If you're buying your first home, you can claim a discount (relief). You’re eligible if you and anyone else you’re buying with are first-time buyers. The discount you can claim depends on when you purchase the property.
Discount up to March 31st, 2025:
- no SDLT up to £425,000
- 5% SDLT on the portion from £425,001 to £625,000
- If the price is over £625,000, you cannot claim the relief
Discount from April 1st, 2025:
- no SDLT up to £300,000
- 5% SDLT on the portion from £300,001 to £500,000
- If the price is over £500,000, you cannot claim the relief
Looking for a home?
Source: UK Government; The Guild of Property Professionals
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