How much tax you’ll pay depends on:
The Scottish and Welsh equivalents of SDLT are:
Stamp Duty is typically charged on any transaction that involves an exchange of property. For example, when you buy:
If the property is under a certain price (threshold), there is no SDLT to pay. You may also be entitled to a discount (tax relief), if you’re a first-time buyer, for example.
If you’re buying a property in England or Northern Ireland, you have 14 days from completion, to pay your Stamp Duty bill through HM Revenue & Customs (HMRC). In Scotland and Wales, you’ll have 30 days to make the equivalent payment.
If you have a solicitor or licensed conveyancer, they’ll usually collect the money from you in advance and file a return for you. However, you’re still responsible for making sure it’s paid on time and will be charged a penalty if it isn’t.
The total amount of Stamp Duty you’ll pay for properties in England and Northern Ireland is cumulative.
You'll have to pay the rate of Stamp Duty for each segment of the property’s value according to these percentages.
Buying your first property
First-time buyers (buyers who have never owned a property, or part of a property, anywhere else in the world) get a special discount on their Stamp Duty. This means there’s no tax on the first £425,000 of the property price, as long as it's below £625,000. If the property value is above £625,000, then there is no discount.
| Property price |
Percentage taxed |
|---|---|
| £0 to £425,000 |
0% |
| £425,001 to £625,000 | 5% |
| Property price |
£0 to £425,000 |
£0 to £425,000 |
|---|---|---|
| Percentage taxed |
0% |
0% |
| Property price |
£425,001 to £625,000 | £425,001 to £625,000 |
| Percentage taxed |
5% |
5% |
If the price is over £625,000, you follow the rules for people who’ve bought a home before.
Buying a new property that will be your only home
| Property price |
Percentage taxed |
|---|---|
| £0 to £250,000 | 0% |
| £250,001 to £925,000 |
5% |
| £925,001 to £1,500,000 |
10% |
| Over £1,500,001 |
12% |
| Property price |
£0 to £250,000 | £0 to £250,000 |
|---|---|---|
| Percentage taxed |
0% |
0% |
| Property price |
£250,001 to £925,000 |
£250,001 to £925,000 |
| Percentage taxed |
5% |
5% |
| Property price |
£925,001 to £1,500,000 |
£925,001 to £1,500,000 |
| Percentage taxed |
10% |
10% |
| Property price |
Over £1,500,001 |
Over £1,500,001 |
| Percentage taxed |
12% |
12% |
So, if you were buying a property worth £260,000, you would pay:
Buying additional properties
If you’re buying a second home in England or Northern Ireland, the rates for additional properties are higher.
| Property price |
Percentage taxed |
|---|---|
| £0 to £250,000 | 3% |
| £250,001 to £925,000 |
8% |
| £925,001 to £1,500,000 |
13% |
| Over £1,500,001 |
15% |
| Property price |
£0 to £250,000 | £0 to £250,000 |
|---|---|---|
| Percentage taxed |
3% |
3% |
| Property price |
£250,001 to £925,000 |
£250,001 to £925,000 |
| Percentage taxed |
8% |
8% |
| Property price |
£925,001 to £1,500,000 |
£925,001 to £1,500,000 |
| Percentage taxed |
13% |
13% |
| Property price |
Over £1,500,001 |
Over £1,500,001 |
| Percentage taxed |
15% |
15% |
For more information, visit GOV.UK: SDLT
If you buy a residential property in England or Northern Ireland, and you’re not a UK resident – you’ll need to pay a surcharge of 2%.
This means SDLT rates are 2% higher on properties bought by non-UK residents, compared to UK residents. The surcharge doesn’t apply to purchases of land or buildings in Scotland or Wales.
This additional 2% surcharge applies to purchases of both freehold and leasehold properties and is on top of all residential rates of SDLT, including zero rates. For example, there are no exemptions for first-time buyers or if the property is priced under the SDLT threshold.
It also increases the SDLT payable on rents on the grant of a new lease.
For more information, visit GOV.UK: SDLT for non-UK residents
The total amount of LBTT you’ll pay for properties in Scotland is cumulative.
Buying your first property
First-time buyers in Scotland don't pay any tax on the first £175,000 of the value of their property.
Buying a new property that will be your only home
| Property price |
Percentage taxed |
|---|---|
| £0 to £145,000 |
0% |
| £145,001 to £250,000 |
2% |
| £250,001 to £325,000 |
5% |
| £325,001 to £750,000 |
10% |
| Over £750,001 |
12% |
| Property price |
£0 to £145,000 |
£0 to £145,000 |
|---|---|---|
| Percentage taxed |
0% |
0% |
| Property price |
£145,001 to £250,000 |
£145,001 to £250,000 |
| Percentage taxed |
2% |
2% |
| Property price |
£250,001 to £325,000 |
£250,001 to £325,000 |
| Percentage taxed |
5% |
5% |
| Property price |
£325,001 to £750,000 |
£325,001 to £750,000 |
| Percentage taxed |
10% |
10% |
| Property price |
Over £750,001 |
Over £750,001 |
| Percentage taxed |
12% |
12% |
Buying additional properties
For second properties in Scotland, you pay an extra 6% on the total value of the property.
For more information, visit GOV.SCOT: LBTT
Buying your first property
There are no concessions for first-time buyers in Wales.
Buying a new property that will be your only home
The total amount of LTT you’ll pay for properties in Wales is cumulative.
| Property price |
Percentage taxed |
|---|---|
| £0 to £225,000 |
0% |
| £225,001 to £400,000 |
6% |
| £400,001 to £750,000 |
7.5% |
| £750,001 to £1,500,000 |
10% |
| Over £1,500,001 |
12% |
| Property price |
£0 to £225,000 |
£0 to £225,000 |
|---|---|---|
| Percentage taxed |
0% |
0% |
| Property price |
£225,001 to £400,000 |
£225,001 to £400,000 |
| Percentage taxed |
6% |
6% |
| Property price |
£400,001 to £750,000 |
£400,001 to £750,000 |
| Percentage taxed |
7.5% |
7.5% |
| Property price |
£750,001 to £1,500,000 |
£750,001 to £1,500,000 |
| Percentage taxed |
10% |
10% |
| Property price |
Over £1,500,001 |
Over £1,500,001 |
| Percentage taxed |
12% |
12% |
Buying additional properties
The rates for additional properties are slightly higher.
| Property price |
Percentage taxed |
|---|---|
| £0 to £180,000 |
4% |
| £180,001 to £250,000 |
7.5% |
| £250,001 to £400,000 |
9% |
| £400,001 to £750,000 |
11.5% |
| £750,001 to £1,500,000 |
14% |
| Over £1,500,001 |
16% |
| Property price |
£0 to £180,000 |
£0 to £180,000 |
|---|---|---|
| Percentage taxed |
4% |
4% |
| Property price |
£180,001 to £250,000 |
£180,001 to £250,000 |
| Percentage taxed |
7.5% |
7.5% |
| Property price |
£250,001 to £400,000 |
£250,001 to £400,000 |
| Percentage taxed |
9% |
9% |
| Property price |
£400,001 to £750,000 |
£400,001 to £750,000 |
| Percentage taxed |
11.5% |
11.5% |
| Property price |
£750,001 to £1,500,000 |
£750,001 to £1,500,000 |
| Percentage taxed |
14% |
14% |
| Property price |
Over £1,500,001 |
Over £1,500,001 |
| Percentage taxed |
16% |
16% |
For more information, visit GOV.WALES: LTT
This article was last updated: 15/02/2024, 08:37
