Stamp Duty Cut!

23rd Septemeber 2022

The chancellor, Kwasi Kwarteng announces a cut to the Stamp Duty tax in England and Northern Ireland!

The cut raises the threshold of how much a property must cost before stamp duty is paid to £250,000.

First time buyers currently pay no stamp duty on the first £300,000, that will be raised to £425,000.

"And we’re going to increase the value of the property on which first-time buyers can claim relief, from £500,000 to £625,000. The steps we’ve taken today mean 200,000 more people will be taken out of paying stamp duty altogether. This is a permanent cut to stamp duty, effective from today."

If you’re moving home

SDLT rate

Up to £250,000


The next £675,000 (the portion from £250,001 to £925,000)


The next £575,000 (the portion from £925,001 to £1.5 million)


The remaining amount (the portion above £1.5 million)



If you’re buying your first home

You can claim a discount (relief) if the property you buy is your first home. This means you’ll pay:

You’re eligible if you and whoever you are purchasing with are first-time buyers.


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