CLA Financial - Witney
CLA Financial - Witney

Rates of Stamp Duty Land Tax (SDLT)

Important information for first time buyers:

For first time buyers stamp duty has been abolished if the property you are buying is under £300,000 (£500,000 in London). If the purchase price is over £300,000, stamp duty is only payable on the amount over £300,000 up to a maximum price of £500,000. If the property is bought for over £500,000, stamp duty will be payable on the whole amount.

Stamp duty rates if you own only one property:

Purchase Price of Property Rates paid on the part of the property within each tax band  
£0 - £125,000 0%
£125,001 - £250,000 2%
£250,001 - £925,000 5%
£925,001 - £1,500,000 10%
£1,500,001 and over 12%

From 1st April 2016, there are new rates of stamp duty land tax on second properties. The rates are as follows:

Purchase Price of Property Rates paid on the part of the property within each tax band
£0 - £125,000 3%
£125,001 - £250,000

5%

£250,001 - £925,000 8%
£925,001 - £1,500,000 13%
£1,500,001 and over 15%

For more information on Stamp Duty, please read the following documents produced by HM Treasury:

HM_Treasury_Stamp_Duty_15.pdf
Adobe Acrobat document [187.8 KB]
SDLT Additional Properties
SDLT_summary_of_responses_final_14032016[...]
Adobe Acrobat document [530.1 KB]

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