Stamp Duty Land Tax (SDLT) is a tax that you have to pay when you buy a house in England or Northern Ireland. If it is your first and primary home, you’re liable to pay on property that costs more than £250,000.
Click here to read about buying property in Scotland.
Whether you’re buying a property outright or you’re buying it with a mortgage agreement, you’ll be liable to pay stamp duty tax.
The rates that you pay depend on the price of the property that you’re buying. Take a look at the table below to see what you could owe if you’re looking to buy:
Property PriceStamp duty rateUp to £250,0000%£250,001 – £925,0005%£925,001 – £1.5m10%£1.5m+12%
For first-time buyers, there is a tax relief when it comes to Stamp Duty. On properties worth up to £425,000, first-time buyers don’t have to pay any stamp duty. On properties worth up to £625,000, you don’t pay the tax on the first £425,000.
For properties worth more than £625,000, first-time buyers are unfortunately no longer eligible for the relief.
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