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 31st March 2021. The changes to stamp duty were announced by the UK Government on 8th July 2020.
The Chancellor Rishi Sunak announced the stamp duty holiday in his summer statement as part of the ecoomic 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 £125k to £500k.
This means that the majority of house purchases in England and Northern Ireland will not be liable for stamp duty as long as purchase are completed before 31st March 2021.
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 £500k.
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 31st March 2021.
This means in order to benefit from the stamp duty holiday, house purchases must complete before 31st March 2021.
From April 2021 onwards the stamp duty rates and thresholds are due to revert back to previous levels.
Scottish LBTT and Welsh LTT holidays are also due to end on 31st March 2021.
The freehold residential stamp duty rates in England and Northern Ireland are shown in the table below and are valid until 31st March 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 31st March 2021. Separate calculations are available for first time buyers, previous homeowners (home movers) and 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.