Stamp Duty Explained
How stamp duty works and what you might pay.
5 min read
What is Stamp Duty?
Stamp Duty Land Tax (SDLT) is a tax paid when purchasing property in England or Northern Ireland. Scotland and Wales have their own versions.
The amount you pay depends on the property price and whether you are a first-time buyer or buying an additional property.
Current Rates
For residential properties: 0% up to £125,000, 2% from £125,001 to £250,000, 5% from £250,001 to £925,000, 10% from £925,001 to £1.5m, and 12% above £1.5m.
First-time buyers pay no stamp duty on properties up to £300,000 and 5% on the portion between £300,001 and £500,000. Properties over £500,000 don't qualify for this relief.
💡 Tips
- •Use an online stamp duty calculator for accurate figures
- •Remember stamp duty is due within 14 days of completion
- •Additional property purchases incur a 5% surcharge