Stamp Duty

Stamp Duty Land Tax (SDLT)

Stamp Duty Land Tax (SDLT) must be paid to HMRC if you buy property or land over a certain amount in England and Northern Ireland:

Residential property - £125k
Non-residential land - £150k

Please note that Wales and Scotland have different policies.

For more detailed information you can go to https://www.gov.uk/stamp-duty-land-tax.

If you are buying your first home then you may be eligible for a discount if:

The purchase price is £500k or less
You, and anyone else you’re buying with, are first time buyers.

The amount you pay will depend on the value of the property or land and the factors mentioned above e.g. is it a residential property?

The HMRC provides a SDLT calculator on their website.

https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro

How to pay

We will file your return and pay the Stamp Duty on your behalf on the day of completion. If you are due any discounts then this will be taken into account e.g. first-time buyer.

Stamp Duty Rates (correct as at 24.07.2019)

Property Value	Stamp Duty Rate
Up to £125,000	Nil
£125,001 – £250,000	2%
£250,001 - £ £925,000	5%
£925,001 - £1.5 million	10%
Any amount above £1.5 million	12%