Goadsby Knowledge Hub

Stamp Duty

Updated: 7 April 2022


The temporary stamp duty holiday that was introduced due to COVID-19 up to £500,000 ended on the 30th June 2021. This holiday meant there was no stamp duty tax to pay for first-time buyers and home movers on the first £500,000 of their purchase.

The reduction was then staggered from the 1st July until 30th September 2021 with the nil-rate band lowered from £500,000 to £250,000.

From 1st October 2021, The Stamp Duty Land Tax (SDLT) returned to normal levels as below.

The amount of stamp duty tax you’ll need to pay depends on a wide range of factors, including how much you pay for the property, the location of the property, whether you have a UK passport, when you buy and whether you’re a first-time buyer. It also depends on whether you’re buying a main home, a holiday home or an investment property. Use this useful stamp duty calculator to work out how much you will pay. 

The Stamp Duty Land Tax (SDLT) is a charge placed on all residential property purchases over £125,000 in England, Wales and Northern Ireland. From April 2016 an additional 3% SDLT surcharge is payable on a second home or buy to let property with a purchase price of £40,000 or above. Please see the chart below for current charges.

If you are a First Time Buyer then as of 22nd November 2017, there is no stamp duty payment due on purchases up to £300,000.

Property ValueCurrent Stamp Duty RateRate for BTL and 2nd Properties
Up to £125,0000%3%
£125,001 to £250,0002%5%
£250,001 to £925,0005%8%
£925,001 to £1.5m10%13%
Over £1.5m12%15%

How is Stamp Duty (SDLT) calculated ?

Example: If you purchase a property for £275,000, the SDLT you would owe is calculated as follows

Property ValueCurrent Stamp Duty RateCostRate for BTL and 2nd PropertiesCost
On the First £125k0%£03%£3,750
On the next £125k2%£2,5005%£6,250
On the Final £25k5%£1,2508%£2,000
Total Stamp Duty£3,750£12,000

For more information on SDLT we would recommend you speak to your solicitor or a tax advisor.


Please note information correct as of September 2021



Residential Sales


Jim Doerr , Stamp Duty

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