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

Zero

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

5%

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

10%

The remaining amount (the portion above £1.5 million)

12%

 

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.

 

Google Rating
5
Based on 300+ reviews

This site uses some cookies to store information on your computer. By using our site you accept our Terms And Conditions and Privacy Policy.

×