Stamp Duty Land Tax (SDLT) is a tax many people will have to pay on residential homes and land bought for over £125,000 in England or Northern Ireland. Different rules apply in Scotland (Land and Buildings Transaction Tax LBTT) and Wales (Land Transaction Tax (LTT). 
 
Stamp Duty must be paid within 14 days of completion. Your solicitor or conveyancer will support you with this part of the process. 
 

How is Stamp Duty calculated? 

PROPERTY VALUE 
STAMP DUTY RATE 
Up to £125,000 
0% 
£125,001 - £250,000 
2% 
£250,001 - £925,000 
5% 
£925,001 - £1.5 million 
10% 
Any portion above £1.5 million 
12% 
 
For example, if you purchase a home for £300,000, the Stamp Duty would be calculated as follows: 
First £125,000 
0% (£0) 
Portion from £125,001 to £250,000 
2% (£2,500) 
Portion from £250,000 to £300,000 
5% (£2,450) 
Total Stamp Duty payable 
£4950 

  What about First-Time Buyers? 

First-time buyers will not pay Stamp Duty on the first £300,000 of the property purchase price. If it is a joint purchase, both partners must be first-time buyers. To qualify for this tax relief, you must have never previously owned a home in the UK or abroad. This also includes any inherited properties, even if you have never lived in them. There is no tax-relief above £500,000, so Stamp Duty would be calucuated in the usual way. 
Up to £300,000 
0% 
£300,000 - £500,000 
5% 

  Additional Homes 

Stamp Duty is taxed at 3% above the standard rate on additional homes. For example, the first £125,000 would be charged at 3% and so on.  

 Are there any exemptions? 

Stamp Duty is NOT payable on: 
 
mobile homes 
caravans 
house boats 
property left to you in a will 
property transferred due to a divorce or separation 
property given as a gift.  
 
 
CALCULATE your Stamp Duty Land Tax here 
 
 
 
Speak to one of our advisers now 
 
 
 
 
FCA Disclaimer 
According to our research, the content contained in this article is accurate at the time of writing. 
Infomation on this website is NOT bespoke advice to its audience as therefore does NOT constitute financial advice. 
Readers are encouraged to contact our qualified advisers directly for mortgage and protection advice. 
As a mortgage is secured against your home, it may be repossessed if you do not keep up with repayments. 
Some types of buy to let mortgages are not regulated by the FCA. Think carefully before securing other debts against your home. 
 
 
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