Residential property rates:

You pay Stamp Duty Land Tax (SDLT) when you buy a property above £250,000. The rate that you pay increases depending on the value of the property that you are purchasing.

Current SDLT Rates:

Property value / SDLT rate

Up to £250,000 - 0%

£250,001 to £925,000 - 5%

£925,001 to £1.5 million - 10%

Above £1.5 million - 12%

These latest rates were introduced in September 2022, the higher rates are only paid on the proportion above the individual thresholds.

First Time Buyers will only pay stamp duty on properties above £425,000.

BUY TO LET / SECOND HOME PURCHASE 

As from 1st April 2016 there will be a  3% increase imposed on the SDLT rates for anyone buying a Buy-to-Let property or second home, as follows: 

Property purchase of £40,000 to £250,000 - 3%

£250,001 to £925,000 - 8%

£925,001 to £1.5 million - 13%

Above £1.5 million - 15%