Stamp Duty

Jargon Buster
Self Build Scheme
16th May 2019
Subject to Contract
16th May 2019

You 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) valueSDLT tax
Up to £125,000Zero
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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