Stamp Duty Land Tax (SDLT)
Effective date of update: Immediate
When purchasing extra properties beyond your primary residence, you will incur higher rates of Stamp Duty Land Tax (SDLT). This additional rate is set to rise from 3% to 5%.
In 2022, the thresholds for Stamp Duty Land Tax (SDLT) were raised temporarily, remaining in effect until March 31, 2025. As a result, starting April 1, 2025, these thresholds will revert to their previous levels, leading to an increase in SDLT for all residential property purchases.
| Until 31st March 2025 | ||
|---|---|---|
| £0 to £125,000 | N/A | 0% |
| £0 to £250,000 | 0% | N/A |
| £250,001 to £925,000 | 5% | 5% |
| £925,001 to £1.5 million | 10% | 10% |
| Above £1.5 million | 12% | 12% |
First-time homebuyers are eligible for a discount on their initial property purchase. Currently, this discount stands at 0% for homes valued up to £425,000 and 5% for those priced between £425,001 and £625,000, with no relief available for properties exceeding £625,000. However, this relief is set to change, with the new structure offering 0% on the first £300,000 and 5% on values from £300,001 to £500,000, again with no relief for properties over £500,000.
Are you in the market for a new home or a business location? Our exceptional network of partners is here to assist you with both personal and business financing, including residential and commercial mortgages. The dedicated team of our partners works diligently to secure the best deals for Aston Shaw customers. If you’re seeking extra funding or a mortgage, don’t hesitate to contact our partnership team at marketing@astonshaw.co.uk for more information.