The Stamp Duty Rates are changing from 1st April 2025.

What is Stamp Duty Land Tax?

Stamp Duty Land Tax (SDLT) is payable on the purchase of a property or land in England and Northern Ireland.

Why is there a change in Stamp Duty Land Tax?

The temporary tax relief for stamp duty introduced by the government in September 2022 comes to an end on 31st March 2025.

What are the changes to Stamp Duty Land Tax which are coming into force?

Two of the key changes to the stamp duty rates coming into force on 1st April 2025 will affect standard rate and first-time buyers:

Standard residential property rates:

The standard residential property rates from 1st April 2025 are as follows:

1st April 2025 Property value    SDLT rate
  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%

 

 

First time buyer rates:

First time buyer relief was introduced in November 2017. This relief was brought in to support individuals wanting to get onto the housing ladder and purchase their first home. Relief for first time buyers is available for individuals who have never owned a residential property before, or an interest in one, in the United Kingdom or anywhere else in the world and who occupy the property as their main residence.

The first time buyer rates from 1st April 2025 are as follows:

1st April 2025 Property value    SDLT rate
  Up to £300,000 Zero

 
  £300,001 to £500,000 5%

Where the price is over £500,000, you will be unable to claim the relief and will need to follow the standard residential property rates.

 

Who pays stamp duty?

Your solicitor or conveyancer will take care of paying your stamp duty return on your behalf as a buyer. The total stamp duty payable on the purchase should be paid to HMRC within 14 days of the completion date of the property to avoid incurring any penalties.

If you want to know how much SDLT you would need to pay, you can use the Stamp Duty Land Tax (SDLT) Calculator.

For further guidance, please visit Stamp Duty Land Tax: Residential property rates – GOV.UK

 

Residential Property Solicitors, London & Guildford

At Gordons Partnership, our experienced team of solicitors are here to guide and support you throughout the conveyancing process.

To speak to our property team today, please call 01483 451 900 (Guildford), 020 7421 9421 (London). Alternatively, you can email sols@gordonsols.co.uk, or fill in this contact form and we will get back to you.

Gordons Partnership are not financial advisers. It is always advisable to liaise with all appropriate professionals when the financing of a property is involved.

 

About the Author

 

Georgia Levin

Paralegal