Stamp duty is one of the costs you need to consider when you purchase a new home. Depending on the value of the property you buy, it can be a sizeable cost to take into account.
Officially known as Stamp Duty Land Tax (SDLT) in England and Northern Ireland, the charge is a tax that’s paid to the government when you buy property. Some buyers and properties are exempt, while there are different rates that apply depending on the value of the home you buy.
Stamp duty can cost up to 12% of the property purchase price. The amount will depend on the value of the property bought, the purchase date, whether you're a first time buyer and whether you are a multiple home owner.
The below tables explain how much Stamp Duty tax is owed on completion when you move in on or before 31st March 2025.
| PROPERTY PRICE BAND | STAMP DUTY RATE |
| Up to £250,000 | 0% |
| Between £250,001 and £925,000 | 5% |
| Between £925,001 and £1.5 million | 10% |
| Over £1.5 million | 12% |
| PROPERTY PRICE BAND | STAMP DUTY RATE |
| Up to £250,000 | 5% |
| Between £250,001 and £925,000 | 10% |
| Between £925,001 and £1.5 million | 15% |
| Over £1.5 million | 17% |
| PROPERTY PRICE BAND | STAMP DUTY RATE |
| Up to £450,000 | 0% |
| Between £450,001 and £625,000 | 5% |
You can claim the first time buyer rates if the property you buy is your first home. You will be eligible if you and anyone else you're buying with are first time buyers.
If the property price is over £625,000, you cannot claim the first time buyer Stamp Duty relief.
You’ll usually pay a 2% surcharge if you’re buying a residential property and you are not a UK resident.
If you move into your new Wain home after 31st March 2025, this table explains how much Stamp Duty is owed on completion.
| PROPERTY PRICE BAND | STAMP DUTY RATE |
| Up to £125,000 | 0% |
| From £125,001 to £250,000 | 2% |
| Between £250,001 and £925,000 | 5% |
| Between £925,001 and £1.5 million | 10% |
| Over £1.5 million | 12% |
| PROPERTY PRICE BAND | STAMP DUTY RATE |
| Up to £125,000 | 5% |
| From £125,001 to £250,000 | 7% |
| Between £250,001 and £925,000 | 10% |
| Between £925,001 and £1.5 million | 15% |
| Over £1.5 million | 17% |
| PROPERTY PRICE BAND | STAMP DUTY RATE |
| Up to £300,000 | 0% |
| Between £300,001 and £625,000 | 5% |
You can claim the first time buyer rates if the property you buy is your first home. You will be eligible if you and anyone else you're buying with are first time buyers.
If the property price is over £625,000, you cannot claim the first time buyer Stamp Duty relief.
You’ll usually pay a 2% surcharge if you’re buying a residential property and you are not a UK resident.
Stamp duty must be paid within 14 days of completing your property purchase. To do this, you have to file a stamp duty return with HMRC and send payment.
If you’ve got a conveyancing solicitor working on your behalf, they should do this for you and add the Stamp Duty charge to their costs. It is possible to add a Stamp Duty charge to your mortgage, but this will mean you’ll pay interest on it for the duration of your mortgage term.
If you're looking to make your move to a new home, then you can view all of our available homes in the North West, South West, Severn Valley and West Midlands here.
If you have any further questions, one of our friendly Sales Executives will be happy to help. Or you can read our blog which explains exactly what the Stamp Duty cut means for you and find an example too by clicking here.
