Stamp Duty Land Tax in England and Northern Ireland
What is stamp duty?
When you buy a residential property in England and Northern Ireland over a certain price you have to pay Stamp Duty Land Tax (SDLT).
Stamp Duty Land Tax (SDLT) or 'stamp duty' is a tax on properties bought in England and Northern Ireland. The rate of stamp duty you'll pay will depend on where in the UK you decide to buy the property. England and Northern Ireland share the same rates, whilst Scotland and Wales differ. The cost of stamp duty will vary depending on the price of your chosen property and your reason for buying it.
When do you have to pay stamp duty?
The tax is paid to the government within 14 days of completion of the sale via an SDLT return to HMRC. If you have a solicitor, estate agent or conveyancer, they’ll usually file your return and pay the tax on your behalf on the day of completion and add the amount to their fees. They’ll also claim any relief you’re eligible for, such as if you’re a first-time buyer. You can also file the return and pay the tax yourself if you wish to do so.
How much stamp duty will I have to pay now?
Use the Stamp Duty Land Tax (SDLT) calculator to find out roughly how much stamp duty you may pay depending on your reason for buying the property and it's valuation.
From 23rd September 2022, there is no stamp duty for properties under £250,000. The amount of stamp duty payable depends on the total purchase price of the property and whether it is your first and only property.
First-time buyers will only pay SDLT on homes over £425,000, up from £300,000 previously. First-time buyers' relief is now available on properties up to £625,000, up from £500,000 previously.
If the property you're buying isn't the only property you own, you'll usually have to pay 3% on top of the standard SDLT rates.
If you're buying in Wales you will pay a Land Transaction Tax.
Stamp Duty Land Tax in England and Northern Ireland
If you are thinking of buying a property, now is still a great time. Although the stamp duty holiday has changed from 1 July 2021, the threshold is £250k for primary residences until the holiday ends on 30th September 2021.
What is stamp duty?
When you buy a residential property in England and Northern Ireland over a certain price you have to pay Stamp Duty Land Tax (SDLT).
Stamp Duty Land Tax (SDLT) or 'stamp duty' is a tax on properties bought in England and Northern Ireland. The rate of stamp duty you'll pay will depend on where in the UK you decide to buy the property. England and Northern Ireland share the same rates, whilst Scotland and Wales differ. The cost of stamp duty will vary depending on the price of your chosen property and your reason for buying it.
When do you have to pay stamp duty?
The tax is paid to the government within 14 days of completion of the sale via an SDLT return to HMRC. If you have a solicitor, estate agent or conveyancer, they’ll usually file your return and pay the tax on your behalf on the day of completion and add the amount to their fees. They’ll also claim any relief you’re eligible for, such as if you’re a first-time buyer. You can also file the return and pay the tax yourself if you wish to do so.
How much stamp duty will I have to pay now?
Use the Stamp Duty Land Tax (SDLT) calculator to find out roughly how much stamp duty you may pay depending on your reason for buying the property and it's valuation.
On 8th July 2020 the Government announced a stamp duty holiday to support the economy through the COVID-19 crisis. This holiday has recently changed. From 1st July 2021, any purchases on a residential property over the value of £250,000 will now be charged stamp duty.
The stamp duty calculator results are based on the stamp duty rates from 1st July 2021 and from 1st October, when the stamp duty holiday is due to end.
If you're buying in Wales you will pay a Land Transaction Tax.