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If you’re buying a house or flat in England or Northern Ireland, you’ll probably need to pay something called Stamp Duty. This is a tax you pay when you buy a property over a certain price.
The rules changed in April 2025, so here’s a clear and easy guide to what you’ll need to pay now.
What is Stamp Duty?
Stamp Duty Land Tax (SDLT) is a one-off tax you pay when you buy a property.
How much you pay depends on:
- How much the property costs
- Whether you’re a first-time buyer
- If you already own another property (like a buy-to-let or second home)
Stamp Duty Rates from April 2025
Here’s how it works for most buyers:
| Price of Property | Stamp Duty Rate |
|---|---|
| Up to £125,000 | 0% (no tax) |
| £125,001 – £250,000 | 2% |
| £250,001 – £925,000 | 5% |
| £925,001 – £1.5 million | 10% |
| Over £1.5 million | 12% |
You only pay the percentage on the part of the price that falls into each band — not on the full amount.
First-Time Buyer Discount
If you’re buying your first home, you’ll pay less:
- 0% on homes up to £300,000
- 5% on anything between £300,001 and £500,000
- If the home costs more than £500,000, you don’t get a discount
Extra Tax on Second Homes
If you already own a property and are buying another one (like a holiday home or rental), you pay extra Stamp Duty:
| Price of Property | Extra Stamp Duty Rate |
|---|---|
| Up to £125,000 | 5% |
| £125,001 – £250,000 | 7% |
| £250,001 – £925,000 | 10% |
| £925,001 – £1.5 million | 15% |
| Over £1.5 million | 17% |
Examples
🏡 Buying your first home for £350,000:
- First £300,000 = 0% tax = £0
- Next £50,000 = 5% = £2,500
Total: £2,500
🏠 Buying your only home for £350,000:
- First £125,000 = 0%
- £125,001–£250,000 = 2% = £2,500
- £250,001–£350,000 = 5% = £5,000
Total: £7,500
🏘 Buying a second home for £350,000:
- First £125,000 = 5% = £6,250
- £125,001–£250,000 = 7% = £8,750
- £250,001–£350,000 = 10% = £10,000
Total: £25,000
When Do You Pay?
You have to pay Stamp Duty within 14 days of completing the sale. Usually, your solicitor or conveyancer will sort this out for you.
Tip
Stamp Duty is an extra cost when buying a home — and it can be a big one. Make sure you know how much you’ll need to pay before making an offer.