Stamp Duty Explained

Buying a home is an exciting milestone, but it’s important to understand all the costs involved — including Stamp Duty Land Tax (SDLT).

What is SDLT?

Stamp Duty Land Tax (SDLT) is a tax paid when you purchase a property in England or Northern Ireland. The amount depends on the purchase price of the property and whether it will be your main residence, an additional property, or a buy-to-let investment.

How Much Will I Pay?

The SDLT rate you pay depends on the value of your home and your circumstances:

  • First-time buyers may be eligible for relief on properties up to a certain threshold, meaning you pay less or nothing on the first portion of your purchase.
  • Second homes or buy-to-let properties incur higher rates, so it’s important to factor this in if you’re purchasing an additional property.

Rates are tiered, so different portions of your property’s price are taxed at different percentages.

Example: For a property costing £350,000, only the portion above the threshold is taxed — not the full amount.

When is SDLT Paid?

  • SDLT must be paid within 14 days of completing your property purchase.
  • Your solicitor or conveyancer usually handles the submission and payment to HMRC on your behalf.

Why It Matters for New Homes

Understanding SDLT is particularly important when buying a new-build property, as it can affect your overall budget and help you plan for other costs like moving, furniture, and renovations.

How to Get Advice

Stamp Duty rules can be complex, especially if:

  • You’re buying a second home
  • You’re purchasing as a company or investor

We recommend speaking to your solicitor or financial advisor to get accurate guidance for your individual situation.

Need More Help?

Our team can guide you through all aspects of buying your new home — including budgeting for SDLT and understanding the costs involved.

Speak to the Team Today

Gov.uk Stamp Duty Calculator.