Starting today, there are revised Stamp Duty Land Tax (SDLT) rates.
Revised rates from 1 July to 30 September 2021
|Property value||SDLT rate|
|Up to £250,000||Zero|
|The next £675,000 (the portion from £250,001 to £925,000)||5%|
|The next £575,000 (the portion from £925,001 to £1.5 million)||10%|
|The remaining amount (the portion above £1.5 million)||12%|
In July 2021 you buy a house for £275,000. The SDLT you owe will be calculated as follows:
0% on the first £250,000 = £0
5% on the remaining £25,000 = £1,250
total SDLT = £1,250
Use the official gov.uk SDLT calculator to work out how much tax you’ll pay.
Higher rates for additional properties
You will usually have to pay 3% on top of SDLT rates if buying a new residential property means you will own more than one.
For more information including special rates and circumstances, visit the government’s SDLT page.