When buying a new property there are lots of things to understand and arrange, and one of these is Stamp Duty. We’ve put together a Stamp Duty Guide to give you some more information on what you can expect to pay depending on the property price, the property location and your ownership history.
What is Stamp Duty?
What is commonly referred to as Stamp Duty (SDLT) is the tax charged by the Government which you pay on completion of a new home. Stamp Duty in Wales is referred to as Land Transaction Tax (LTT).
How much is Stamp Duty?
The percentage of Stamp Duty will be applied to the proportion of the property price within each tax band.
If you are buying a second home or for investment, there is an additional 5% charge on each bracket.
Stamp Duty payable on properties in England:
There is no stamp duty to pay on the first £125,000, then the following rates will apply:
| Purchase Price | Stamp Duty % |
| £0 to £125,000 | 0% (Zero) |
| £125,001 to £250,000 | 2% |
| £250,001 to £925,000 | 5% |
| £925,001 to £1,500,000 | 10% |
| Over £1,500,000 | 12% |
If you’re a first time buyer, the following rates will apply:
| Purchase Price | Stamp Duty % |
| £0 to £300,000 | 0% (Zero) |
| £300,001 to £500,000 | 5% |
There is no additional first time buyer relief on properties over £500,000
Land Transaction Tax (LTT) payable on properties in Wales:
For the latest advice for Wales you can visit the Welsh Government website.
