In accordance with Government Announcement on the 30th October 2024 from 1st April 2025, there will be several changes coming into effect.
Please note if you complete after 1 April 2025 then these changes could impact the stamp duty rate applicable to you even if you have exchanged contracts already.
Thresholds up to 31 March 2025
SDLT starts to apply when you buy property that costs:
- £250,000 for residential properties
- £425,000 for first-time buyers buying a residential property worth £625,000 or less
- £150,000 for non-residential land and properties
Thresholds from 1 April 2025
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
You can visit the gov.uk website and search Stamp Duty Land Tax where you will find further information and a calculator to enable you to calculate the rate and amount payable.
To discuss any Conveyancing matters please contact either Donna Sandison or Laura Day of our Conveyancing Team or telephone the office 01775 722261.