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Buying a House

What is stamp duty?

Stamp Duty Land Tax, often referred to as SDLT or Stamp Duty, is a tax due on all property purchases, new or pre-owned, in England. If you are buying a residential property, there are different rates of SDLT if you are a first time buyer or are buying an additional property.

The current SDLT threshold for residential properties is £250,000. If you buy a property for less than the threshold, there's no SDLT to pay.

First time

You can claim a discount if the property you buy is your first home. This means you’ll pay:

  • no SDLT up to £425,000

  • 5% SDLT on the portion from £425,001 to £625,000

How much will you need to pay?

SDLT rate

Up to £250,000                                                                         Zero

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%

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