Stamp Duty Rates
For most people, Stamp Duty is unavoidable: one of the unpleasant realities of buying.
You may also hear Stamp Duty referred to by its official name – SDLT (Stamp Duty Land Tax). The term SDLT was introduced in 2003, but it is still more commonly referred to as Stamp Duty.
While the rates for most properties have remained the same for over 10 years, the government does tend to play around with rates for less expensive properties to try and incentivise buyers.
- For example, “first time buyer relief” is available on properties below the £250,000 threshold. So, provided all the buyers are first time buyers there will be no Stamp Duty as long as the purchase is completed before 25 March 2012.
- More recently – on 6th April 2011 – the government introduced a new 5% rate for residential properties worth more than £1 million.
The following table shows the latest Stamp Duty rates:
| Purchase price | SDLT rate |
| Up to £125,000 | Zero |
| Over £125,000 to £250,000* | 1% |
| Over £250,000 to £500,000 | 3% |
| Over £500,000 to £1,000,000 | 4% |
| Over £1,000,000 | 5% |
* The 2010 budget introduced SDLT relief on properties worth between £125,001 and £250,000 where the buyer or all the buyers (if more than one) are first time buyers. This relief applies to all purchases where the transaction date is on or after 25 March 2010 and before 25 March 2012.
Click here to calculate the Stamp Duty on your property: Stamp Duty calculator