Stamp Duty Land Tax (SDLT) is usually payable when you buy a residential property, subject to certain reliefs. In the infamous Mini Budget of 2022, stamp duty land tax thresholds were changed to try and stimulate the housing market, but these changes are due to come to an end on 31st March 2025.
Stamp Duty Land Tax (SDLT) Rates
| Property or lease premium or transfer value | SDLT rate |
|---|---|
| Up to £250,000 | Nil |
| The next £675,000 (the portion from £250,001 to £925,000) | 5% |
| The next £575,000 (the portion from £925,001 to £1.5 million) | 10% |
| Any portion above £1.5 million | 12% |
| First Time Buyers (no relief available if price over £625,000): | |
| Up to £425,000 | Nil |
| Portion from £425,001 to £625,000 | 5% |
Rates for a single property with completion date from 1 April 2025:
| Property or lease premium or transfer value | SDLT rate |
|---|---|
| Up to £125,000 | Nil |
| The next £125,000 (the portion from £125,001 to £250,000) | 2% |
| The next £675,000 (the portion from £250,001 to £925,000) | 5% |
| The next £575,000 (the portion from £925,001 to £1.5 million) | 10% |
| Any portion above £1.5 million | 12% |
| First Time Buyers (no relief available if price over £500,000): | |
| Up to £300,000 | Nil |
| Portion from £300,001 to £500,000 | 5% |
⚠️ Additional properties:
You will usually need to pay an additional 5% on top of SDLT rates if buying an additional residential property, where it means that you will own more than one at once.
✅ You will NOT pay the extra 5% SDLT if both of the following apply:
• 🏠 The property you’re buying is replacing your main residence;
• ⏳ Your previous main residence was sold within 36 months of completing your new purchase;