Stamp Duty Land Tax (SDLT) Calculator and Rates
First time buyers purchasing property from 1
October, the 0% stamp duty threshold will return to £125,000, or £300,000 for
first time buyers purchasing a property worth up to £500,000. The stamp duty
rate ranges from 2% to 12% of the purchase price, depending upon the value of
the property bought, the purchase date and whether you are a first time buyer
or multiple home owner.
Eligibility Criteria
For Claiming Relief of Stamp Duty Land Tax
First Time Buyer
The relief is available for only those buyers
who are buying for the first time in the regions where the SDLT is applicable.
A first time buyer by definition is a person who either alone or in
collaboration with other has not purchased any property of major interest
anywhere around the world. It also includes acquisition of land by inheritance
or as a gift.
Single Purchase
The relief is available to the purchase of a single dwelling only. Premises or property purchased consisting of more than one dwelling will not be eligible for the relief. There are several intricacies involving around the definition of “dwelling” which can be figured out in HMRC’s website.
Stamp Duty Land Tax
(SDLT) Rates
From 1 October 2021, rates will return to
pre-Covid levels. That means the point you to start paying stamp duty will be
£125,001:
- £0-£125,000 = 0%
- £125,001-£250,000 = 2%
- £250,001-£925,000 = 5%
- £925,001-£1,500,000 = 10%
- £1,500,001+ = 12%
SDLT is a complicated tax. The amount of tax
payable can depend on issues such as:
- whether more than one property is purchased at
the same time
- whether any part of the property is commercial
use
- whether there is any land (or woodland) sold
with the property
- whether there is an annexe ('granny flat') or
outbuilding.
To discuss this or any other property matter,
get in touch with SDLT
expert near you.
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