Between 1 July – 30 September 2021: No stamp duty on a residential property bought for up to £250,000.
But from 1 October 2021 onwards, the nil rate band will return to the standard amount of £125,000 (this threshold is the as it was before 8 July 2020).
First-time buyers
From 1 July 2021, first-time buyers get a discount (relief) that means they will pay less or no tax if both the following apply:
- you, and anyone else you’re buying with, are first-time buyers
- the purchase price is £500,000 or less
How much you pay
How much you pay depends on whether the land or property is residential or non-residential or mixed-use. If you’re buying a residential property there are different rates of SDLT if:
- you’re a first-time buyer
- you already own a property and you’re buying an additional property
- you’re not a UK resident
Check out this link for full details: https://www.gov.uk/stamp-duty-land-tax
Conveyancing quote? Click on this link to our instant online conveyancing quote calculator to see a full breakdown of costs for your house purchase / sale:
