Stamp Duty, or Stamp Duty Land Tax (SDLT) as it is called, is a charge that applies when purchasing a residential property in the UK.
The charge applies regardless of whether it’s new or second hand, and the amount you pay depends on the purchase price. The current rates can be found below.
These new rates only apply to the amount of the purchase price that falls within the particular duty band. With the previous system you would be paying successively higher rates on the entire purchase price (which in most cases is less favourable).
If you are buying your first home, then different rules apply. You get a discount (relief), which means you pay none or less tax if:
- you complete your purchase on or after 22 November 2017
- the purchase price is £500,000 or less
- you, and anyone else you are buying with, are first-time buyers.
Different rates apply in Scotland. From 1st April 2015, SDLT has been replaced by Land and Buildings Transaction Tax (LBTT).
Stamp Duty Offers
To help our customers when securing their dream home, we are able contribute to the Stamp Duty charge, or in some cases, even pay the full amount.
This offer is only available on participating properties – just look out for the 'Stamp Duty Offer' emblem across any of our property listings. For more information, please feel free to contact the Sales Team of your chosen development.