Stamp duty for first time buyers has been abolished for most purchasers.
Stamp duty for buy to let property has increased substantially from April 2016.
Stamp duty for second homes also attracts a 3 percent surcharge from April. Mobile homes, caravans and houseboats are exempt.
Stamp duty refunds are available for home movers replacing their main residence. The original home must be sold within 3 years.
A stamp duty holiday has been introduced for purchases of homes in England & Northern Ireland.
The stamp duty holiday came into immediate effect on 8th July 2020 and is set to end on 30th June 2021. The stamp duty holiday was originally due to end on 31st March 2021.
During the spring Budget on 3rd March 2021, the Chancellor announced 3 month extension to the stamp duty holiday meaning it will now remain in place until the end of June. From July further stamp duty relief will be available until 30th Septtember 2021.
The Chancellor Rishi Sunak originally announced the introduction of the stamp duty holiday in his summer statement as part of the economic response to the Covid-19 pandemic. The changes to stamp duty are designed to support the housing sector through the crisis.
The initial threshold for anyone buying a home has increased from £125,000 to £500,000 until 30th June 2021. To ensure a smooth transition back to normal rates, the initial stamp duty threshold will reduce to £250,000 from July through to end of September.
Additional property transactions will also benefit from the higher initial threshold with only the lower surcharge of 3% being applied to buy to let and second home purchases up to £500,000 until the end of June, and £250,000 from July until September.
The stamp duty holiday applies to house purchases in England and Northern Ireland, a separate LBTT holiday is operating in Scotland and a LTT holiday is active in Wales.
The stamp duty holiday is due to end on 30th June with further stamp duty relief available until October 2021.
From October 2021 onwards the stamp duty rates and thresholds are due to revert back to previous levels.
The freehold residential stamp duty rates in England and Northern Ireland are shown in the table below and are valid until 30th June 2021. The rates reflect the higher initial threshold following the introduction of the stamp duty holiday.
|Tax Band||Normal Rate||Additional Property|
|less than £500k||0%||3%*|
|£500k to £925k||5%||8%|
|£925k to £1.5m||10%||13%|
|rest over £1.5m||12%||15%|
|* An additional property purchased for less than £40k will attract 0% tax. For purchases from £40k to £500k the SDLT rate will be 3% on full purchase price.|
The stamp duty calculators below show SDLT calculations before and after the stamp duty holiday, and during the transition period from July to October. Separate calculations are available for first time buyers, previous homeowners (home movers) and for additional property transactions including buy to let and second home purchases.
From April 2021 anyone living overseas will pay an additional 2 percent in stamp duty if they purchase a property in England or Northern Ireland.
More information, rates and calculations can be found on our stamp duty for non-UK residents page.
Stamp duty calculations with new stamp duty thresholds. One ckick SDLT Calculations!
Following Changes in 2018, Land Transaction Tax (LTT) has replaced Stamp Duty in Wales.