Since October 1st, there are revised Stamp Duty Land Tax (SDLT) rates.
These rates also apply if you bought a property before 8 July 2020.
You can also use this table to work out the SDLT for the purchase price of a lease (the ‘lease premium’).
|Property or lease premium or transfer value||SDLT rate|
|Up to £125,000||Zero|
|The next £125,000 (the portion from £125,001 to £250,000)||2%|
|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 October 2021 you buy a house for £295,000. The SDLT you owe will be calculated as follows:
- 0% on the first £125,000 = £0
- 2% on the next £125,000 = £2,500
- 5% on the final £45,000 = £2,250
- total SDLT = £4,750
Use the 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.