Stamp Duty Land Tax (SDLT) is a Government Tax paid on property and land purchases.

How much you pay depends on where the property is, the price you are paying for the property and whether you already own another property (in the UK or overseas).

It is for the house purchaser to pay the SDLT, not the seller.  Your solicitor will usually arrange to pay the SDLT for you as part of the conveyancing process.

If the house you are buying costs less than £125,000 you do not have to pay any SDLT, unless you already own another property. 

First time buyers are currently exempt from paying SDLT on properties worth up to £300,000 (as at 3rd January 2020). To qualify as a first time buyer relief a purchase must be:

  1. Buying a home for less than £300,000
  2. Purchasing a house that they intend to live in
  3. Purchasing in England (Wales does not offer first time buyers stamp duty relief)

For buyers of second properties the rates of SDLT are higher.

To calculate the SDLT payable on your property use the link below:

https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro

We can help

When buying a house, whether it be for the first time or not, there is a process that everyone typically has to follow and until the process is complete it is not possible to move. When you are selling a house there is also a process you need to go through.

Our job is to try and make the two processes run as smoothly together as possible, and hopefully, the sale and purchase will go through together at the same time.

Contact our offices in Lincoln, Boston, Grantham, Newark, Sleaford or Spalding.

How can we help?

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