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Stamp Duty Land Tax

Stamp Duty Land Tax (SDLT) is payable by the purchaser in a land transaction which includes a simple purchase of land. This includes buying a house also also creating or or assigning a lease.

Since 1 October 2021, the threshold for stamp duty relief has reverted to £125,000. The stamp duty rate ranges from 2% to 12% of the purchase price, depending upon the value of the property bought, the purchase date and whether you are a multiple home owner.

However, for the purchase of additional properties that are not a main residence, the three per cent stamp duty surcharge applies, meaning that while there is no stamp duty for those purchasing a new property as a main residence, there is still a three per cent charge for those purchasing additional property.

We can advise you on your SDLT responsibilities and, if you own more than one property, the most tax efficient purchase or disposal method.

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