The temporary stamp duty changes put in place by the last Government to boost the property market during COVID are coming to an end of 31st March 2025.
The current rates (% of the purchase price) are:
Property or lease premium or transfer value | SDLT rate |
Up to £250,000 | Zero |
The next £675,000 (the portion from £250,001 to £925,000) | 5% |
The next £575,000 (the portion from £925,001 to £1.5 million) | 10% |
The remaining amount (the portion above £1.5 million) | 12% |
From 1st April 2025 (no April fool) the rates will revert to pre-pandemic levels of:-
Property or lease premium or transfer value | PercentageS |
Up to £125,000 | Zero |
The next £125,000 (the portion from £125,001 to £250,000) | 2% |
The next £675,000 (the portion from £250,001 to £925,000) | 5% |
The next £575,000 (the portion from £925,001 to £1.5 million) | 10% |
The remaining amount (the portion above £1.5 million) | 12% |
First Time Buyers will receive relief on the first £300,000 rather than first £425,000.
For additional information visit https://www.gov.uk/government/publications/stamp-duty-land-tax-temporary-reductions-for-residential-properties/stamp-duty-land-tax-temporary-increase-to-thresholds
INFORMATION BASED ON CURRENT LEGISLATION – October 2024 Budget may change the above.
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