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Stamp Duty Rates

Residential land or property SDLT rates and thresholds

On 3 December 2014 the Chancellor introduced a new system for the calculation of stamp duty due on a purchase of a residential property. This will mean that, in the same way as income tax, stamp duty rates apply only to the part of the property price that falls within each band when it is bought.

From 4 December 2014, this means:

No stamp duty will be paid on the first £125,000 of a property
2% will be paid on the portion up to £250,000
5% is paid for the portion up to £925,000
10% is paid on the portion up to £1.5m
12% is paid on anything above that
Anyone in the process of buying a property, having exchanged contracts already before 4 December 2014 but not completed, will be able to choose whether to use the old or the new system. Anybody exchanging contracts after 4 December 2014 will use the new rates and system set out above.

A stamp duty calculator has been created by HM Revenue and Customs.