You pay Stamp Duty Land Tax (SDLT) on increasing portions of a property price when you buy residential property, for example a house or apartment. SDLT only applies to properties over a certain value.

In England and Northern Ireland, Stamp Duty Land Tax is a levy on home and land purchases. It is a cost that buyers have to pay if the transaction value exceeds a certain amount.

Following the government Stamp Duty Cut announcement on Friday 23rd September 2022 and effective immediately, the new, increased thresholds are outlined below:

FIRST TIME BUYERS

Up to £425,000 - Zero
From £425,000 to £625,000 - 5%

SECOND STEPPERS (SINGLE PROPERTY)

Up to £250,000 - Zero
The next £675,000 (the portion from £250,000 to £925,000) - 5%
The next £575,000 (the portion from £925,001 to £1.5 million) - 10%
The remaining amount (the portion above £1.5miliion) - 12%

ADDITIONAL PROPERTIES

Up to £250,000 - 3%
The next £675,000 (the portion from £250,001 to £925,000) - 8%
The next £575,000 (the portion from £925,001 to £1.5 million) - 13% 
The remaining amount (the portion above £1.5 million) - 15%