Stamp Duty Land Tax (SDLT) is a tax applied on the purchase of property in England and Northern Ireland and so forms a part of the work we undertake as part of your purchase.
SDLT is charged at different rates depending on the purchase price of a property.
Since 2014 stamp duty has become a progressive tax with rate increases applied between specific stamp duty thresholds.
Over the past 10 years there have been adjustments made to the Stamp Duty thresholds and differing reliefs and surcharges introduced. The latest changes to the tax – coming into effect 1st April 2025 - result in the following thresholds that you need to be aware of if a house move or first purchase is on your horizon for 2025 and beyond:
| Property or lease premium or transfer value | SDLT rate |
| Up to £125,000 | Zero |
| 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% |
| The remaining amount (the portion above £1.5 million) | 12% |
If you are buying your first home, you’ll pay no Stamp Duty up to the property value of £300,000 and will be taxed at a rate of 5% for any portion of the purchase price between £300,001 to £500,000. If the property you are purchasing as a first time buyer is worth more than £500,000, no First Time Buyer Relief is available.
There remains differing rates of Stamp Duty paid if you are purchasing in a Company name, are a non UK Resident or if you own multiple properties but those rates are not due to be changing as we enter the new financial year in April 2025.
Whether you are buying your first home, moving up the property ladder or making an investment purchase, please do contact our Residential Conveyancing team at info@brethertons.co.uk to find out how we can help.
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