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%