Self Build Scheme
16th May 2019Subject to Contract
16th May 2019You usually pay Stamp Duty Land Tax (SDLT) on increasing portions of the property price above £125,000 when you buy residential property, for example a house or flat (not a buy-to-let property or second/ holiday home).
However, there are different rules if you’re buying your first home and the purchase price is £500,000 or less. You can claim a discount (relief) so you do not pay any tax up to £300,000 and 5% on the portion from £300,001 to £500,000.
You’re eligible if:
- you, and anyone else you’re buying with, are first-time buyers
- you complete your purchase on or after 22 November 2017
Property (or lease premium or transfer) value | SDLT tax |
---|---|
Up to £125,000 | Zero |
The next £125,000 (the portion from £125,001 to £250,000) | 2% |
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% |
See the Stamp Duty Land Tax Calculator to work out how much Stamp Duty you’ll pay.
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