Stamp Duty Land Tax

You must pay Stamp Duty Land Tax (SDLT) if you buy a property or land over a certain price in England and Northern Ireland. 

You pay the tax when you:

• buy a freehold property

• buy a new or existing leasehold

• buy a property through a shared ownership scheme

• are transferred land or property in exchange for payment, for example you take on a mortgage or buy a share in a house

Thresholds

The threshold is where SDLT starts to apply. If you buy a property for less than the threshold, there’s no SDLT to pay.

SDLT starts to apply when you buy property that costs:

• £125,000 for residential properties

• £300,000 for first-time buyers buying a residential property worth £500,000 or less

• £150,000 for non-residential land and properties

The amount you pay and the above thresholds can change through government policy, to keep an eye on matters visit;

https://www.gov.uk/stamp-duty-land-tax