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- When you buy property or land, you usually pay tax on it. This is called stamp duty land tax in England and Northern Ireland, land and buildings transaction tax in Scotland and land transaction tax in Wales (though we'll use the generic term 'stamp duty' throughout this guide).
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Do you pay stamp duty if you buy a house?
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Stamp duty is a tax that's charged when you buy a property in the UK, but you'll only need to pay it if the price of that property reaches a certain threshold. Our stamp duty calculator below shows you just how much you'll need to pay.
- Thresholds
- How much you pay
- The value you pay SDLT on (the ‘consideration’)
- How and when to pay
The threshold is where SDLT starts to apply. If you buy a property for less than the threshold, there’s no SDLT to pay.
The current SDLT thresholds are:
•£250,000 for residential properties
•£425,000 for first-time buyers buying a residential property worth £625,000 or less
•£150,000 for non-residential land and properties
There were different thresholds and rates for residential properties before 23 September 2022.
How much you pay depends on:
•whether the land or property will be used as a residential property or as a non-residential or mixed-use property
•whether you are eligible for relief or an exemption
For example, if you’re buying a residential property there are different rates of SDLT if:
•you’re a first-time buyer
•you already own a property and you’re buying an additional property
The total value you pay SDLT on (sometimes called the ‘consideration’) is usually the price you pay for the property or land.
Sometimes it might include another type of payment like:
•goods
•works or services
•release from a debt
•transfer of a debt, including the value of any outstanding mortgage
Send an SDLT return to HMRC and pay the tax within 14 days of completion.
If you have a solicitor, agent or conveyancer, they’ll usually file your return and pay the tax on your behalf on the day of completion. They’ll then add the tax to their fees.
If they do not do this for you, you can file a return and pay the tax yourself.
You may be charged penalties and interest if you do not file your return and make your payment within 14 days of completion.
You usually pay Stamp Duty Land Tax (SDLT) on increasing portions of the property price when you buy residential property, for example a house or flat. SDLT only applies to properties over...
You won’t pay any stamp duty on a residential property, or the portion of a property, priced at or below £250,000. From 23rd September 2022, stamp duty is payable at the following rates: Remember, if you’re a first-time buyer, you won’t pay stamp duty tax on a property priced at or below £425,000.
- Stamp Duty Land Tax (SDLT) is a form of tax that is paid to the government when you purchase property or land, above a certain price threshold, in...
- The amount of stamp duty tax you will need to pay depends on a wide range of factors, including how much you pay for the property, the location of...
- Yes, but at a lower rate than other buyers. If you’re a first-time buyer in England and Northern Ireland, and anyone else you’re buying with are fi...
- If you’re a non-UK resident buying a residential property in England or Northern Ireland, you’ll pay an additional 2% on top of the existing stamp...
- Stamp duty tax is payable within two weeks of completing your sale. Your solicitor should handle the paperwork for you. If you would prefer to do i...
- You usually pay an extra 3% on top of the normal stamp duty rates if you’re buying a holiday home or a second home.
- Buyers investing in a rental property pay the same rate of stamp duty as those buying holiday homes, which is a 3% surcharge.
- You pay the same amount of stamp duty whether the home you’re buying is brand new or a resale property.
Stamp duty tax on home buyers is a major cost to budget for when buying a new property. Whether you're buying your first home, you're a home mover or buying a second property, we take you through everything you need to know about how much stamp duty costs and when you pay stamp duty.
Stamp Duty is a tax you might have to pay if you buy a residential property or a piece of land in England or Northern Ireland over a certain price. You will pay Stamp Duty on residential properties costing more than £250,000, unless you qualify for first-time buyers relief.
Apr 12, 2024 · Enter the price, location and purpose of the property you're buying and our stamp duty calculator will tell you how much tax you'll have to pay on it. This calculator has been updated to reflect the changes to stamp duty thresholds in England, Wales and Northern Ireland introduced in 2022.
