Stamp Duty Holiday Update

The 30^th September 2021 marked the end to the stamp duty holiday. From 1 October 2021, the normal stamp duty rules will apply.

We have set out below the rates that apply when purchasing a property.

Example

From 1 October 2021 if you buy a house for £295,000. The SDLT you owe will be calculated as follows:

• 0% on the first £125,000 = £0
• 2% on the next £125,000 = £2,500
• 5% on the final £45,000 = £2,250

Total SDLT = £4,750

First time buyers

SDLT relief is available for first time buyers paying £500,000.00 or less. No duty is payable on £300,000, 5% is payable on the excess of £300,000.00.

Additional properties and non-UK residents

Higher rates of stamp duty land tax are payable for additional properties and non-UK residents.

If you would like any further information, please contact our office, and speak with one of our friendly residential conveyancing team members who will be able to assist.