Stamp Duty (SDLT) and Land Transaction Tax (LTT)
Understanding property purchase taxes across the UK
Stamp Duty Land Tax (England)
Standard Rates
| Property Price | Rate |
|---|---|
| Up to £250,000 | 0% |
| £250,001 – £925,000 | 5% |
| £925,001 – £1.5m | 10% |
| Above £1.5m | 12% |
First-Time Buyers
- 0% on properties up to £425,000
- 5% on portion from £425,001 to £625,000
- No relief above £625,000
Additional Properties
Add 3% to all bands if you own another property
Land Transaction Tax (Wales)
| Property Price | Rate |
|---|---|
| Up to £225,000 | 0% |
| £225,001 – £400,000 | 6% |
| £400,001 – £750,000 | 7.5% |
| £750,001 – £1.5m | 10% |
| Above £1.5m | 12% |
Key Points
- Tax is on portion within each band
- Must be paid within 14 days of completion
- Solicitor usually handles payment
- Different rules for commercial property
- Non-UK residents pay 2% extra
Examples
Example 1: £350,000 Property
- First £250,000: £0
- Remaining £100,000: £5,000 (5%)
- Total SDLT: £5,000
Example 2: First-Time Buyer £450,000
- First £425,000: £0
- Remaining £25,000: £1,250 (5%)
- Total SDLT: £1,250