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Residential property rates:

You pay Stamp Duty Land Tax (SDLT) when you buy a property above £125,000. 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 £125,000 - 0%

£125,001 to £250,000 - 2%

£250,001 to £925,000 - 5%

£925,001 to £1.5 million - 10%

Above £1.5 million - 12%

These latest rates were introduced in December 2015 and unlike the old method, the higher rates are only paid on the proportion above the individual thresholds as opposed to the whole amount, for example:

If you buy a property for £275,000, the SDLT that you pay is calculated as follows:

0% on the first £125,000 =  £0

2% on the next £125,000 = £2,500

5% on the final £25,000 =   £1,250

Total SDLT payable =      £3750


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 £125,000 - 3%

£125,001 to £250,000 - 5%

£250,001 to £925,000 - 8%

£925,001 to £1.5 million - 13%

Above £1.5 million - 15%

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