Wed, 02 Apr 2025

Wed, 02 Apr 2025 What is stamp duty and how is it changing?

Home buyers in England and Northern Ireland will pay more stamp duty from 1 April when thresholds rise.

* Home buyers who cannot complete their deals before March 31 may pull out as a result,
* Stamp Duty Land Tax (SDLT) rates: + Current: £0-£250,000 = 0%, £250,001-£925,000 = 5%, £925,001-£1.5m = 10%, £1.5m+ = 12% + New from April 1: £0-£125,000 = 0%, £125,001-£250,000 = 2%, £250,001-£925,000 = 5%, £925,001-£1.5m = 10%, £1.5m+ = 12%
* First-time buyers' threshold will drop back to £300,000 from April 1,
* Additional rate for those owning a residential property worth over £40,000: + Current: an extra 3% on properties worth up to £125,000 + New from April 1: an extra 5% on properties worth up to £125,000,
* SDLT raised £11.6bn for the government in the 2023-24 financial year.
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