Stamp Duty Land Tax in England and Northern Ireland

 

In England and Northern Ireland you are required to pay Stamp Duty Land Tax (SDLT) if you buy a property or piece of land that is priced of a set threshold. 

You pay the tax when you:

• buy a freehold property

• buy a new or existing leasehold

• buy a property through a shared ownership scheme

• are transferred land or property in exchange for payment, for example you take on a mortgage or buy a share in a house

The current SDLT threshold for residential properties is £500,000, this changes on 1 July 2021. From 1st July 2021 the SDLT thresholds will be:

• £250,000 for residential properties

• £150,000 for non-residential land and properties

How much stamp duty will you pay

From the 1st July 2021 rates will be as follows 

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To check the amount you will need to pay use our handy stamp duty calculator by clicking here.

What Stamp Duty will First Time Buyers Pay? 

If you are a first time buyer from the 1st July 2021 you will be eligible for a tax relief which will increase the threshold rate. From the 1st July 2021 you will pay:

• no SDLT up to £300,000

• 5% SDLT on the portion from £300,001 to £500,000