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Stamp Duty

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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.  You pay SDLT on increasing portions of the property price above the threshold.

You pay tax when you:

  • buy a freehold property
  • buy a new or existing leasehold
  • buy a property through a shared ownership scheme
  • are transferred land or property in exchange for payment, eg, you take on a mortgage or buy a share in a house

Residential Property Rates

There are several rate bands for Stamp Duty.  The tax is calculated on the part of the property purchase price that falls within each band.

  • Up to £125,000            0%
  • £125,001 - £250,000    2%
  • £250,001 - £925,000    5%
  • £925,001 - £1.5m        10%
  • Above £1.5m              12%

For example, if you buy a house for £275,000, the SDLT you owe is calculated as follows:

  • 0% on the first £125,000 = £0
  • 2% on the next £125,000 = £2,500
  • 5% on the final £25,000 = £1,250
  • Total SDLT = £3,750

First Time Buyers

From 22nd November 2017, first time buyers paying £300,000 or less for a residential property will pay no Stamp Duty Land Tax (SDLT).  First time buyers paying between £300,000 and £500,000 will pay SDLT at 5% on the amount of the purchase price in excess of £300,000.

A first time buyer is defined as an individual or individuals who have never owned an interest in a residential property in the United Kingdom or anywhere else in the world and who intends to occupy the property as their main residence.

First time buyers purchasing a property for more than £500,000 will not be entitled to any relief and will pay SDLT at the normal rates.

The revised rates and thresholds for residential property purchasers worth £500,000 or less by first time buyers is as follows:

  • Up to £125,000 = 0%
  • Over £125,000 and up to £300,000 = 0%
  • Over £300,000 and up to £500,000 = 5%

Buy-to-Let or Second Home Purchases

For anyone buying an additional property, including buy-to-let landlords and those buying second homes and holiday homes, you will have to pay an extra 3% on top of the normal SDLT rates.  The second home and buy-to-let stamp duty rates are tiered, just like residential stamp duty rates.

  • Up to £125,000            3%
  • £125,001 - £250,000    5%
  • £250,001 - £925,000    8%
  • £925,001 - £1.5m        13%
  • Over £1.5m                 15%

For example, if you buy a house for £275,000, the SDLT you owe is calculated as follows:

  • 3% on the first £125,000 = £3,750
  • 5% on the next £125,000 = £6,250
  • 8% on the final £25,000 = £2,000
  • Total SDLT = £12,000

You will not pay the extra 3% SDLT if the property you are buying is replacing your main residence and that has already been sold.

If there is a delay selling your main residence and it has not been sold on the day you complete your new purchase:

  • you will have to pay higher rates because you own two properties
  • you may be able to get a refund if you sell your previous main home within 36 months

Further guidance is available by visiting: or alternatively for further information, please contact:

Sales Team: 01827 311412 or email:

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