Stamp Duty

If you buy either property or land in the UK you have to pay Stamp Duty Land Tax (SDLT).

Since April 2016 the stamp duty levy on second homes and 'buy-to let' homes has changed with a 3% surcharge payable in addition to the standard rate for such purchases. The full detail can be seen by following this link: https://www.gov.uk/stamp-duty-land-tax 

Stamp Duty Land Tax is charged on all purchases of houses, flats and other land and buildings.

The SDLT rate depends on:
 

 

If you are selling your main home, but for a short period will own two properties having purchased your new home whilst still trying to sell your old home, you will still have to pay the 3% surcharge levy on the purchase. This surcharge can be refunded by HMRC provided that your old home sells within 36 months of the new home having been purchased.

The amount of Stamp Duty Land Tax payable will depend on the portion of the purchase price that falls into each rate band as shown. As from 22nd November 2017, relief from SDLT is available to all first time buyers on purchases up to the value of £300,000 (£500,000 in London), provided the purchaser intends to occupy the property as their only or main residence.

 

First Home

Purchase Price	Rate of tax
£0 - £125,000	0%
£125,001 - £250,000	2%
£250,001 - £925,000	5%
£925,001 - £1,500,000	10%
Over £1,500,000	12%

Buy-to-let or Second Home

Purchase Price	Rate of tax
£0 - £40,000	0%
£40,001 - £125,000	3%
£125,001 - £250,000	5%
£250,001 - £925,000	8%
£925,001 - £1,500,000	13%
Over £1,500,000	15%