- You must pay Stamp Duty Land Tax (SDLT) if you buy a property or land over a certain price in England, Wales and Northern Ireland.
- The current SDLT threshold is £125,000 for residential properties and £150,000 for non-residential land and properties.
- SDLT no longer applies in Scotland. Instead you pay Land and Buildings Transaction Tax when you buy a property.
- You pay the tax when you:
- buy a freehold property
- buy a new or existing leasehold
- buy a property through a shared ownership scheme
- are transferred land or property in exchange for payment, eg you take on a mortgage or buy a share in a house
- How much you pay depends on whether the land or property is:
- residential
- non-residential or mixed-use
- You can use HM Revenue and Customs’ (HMRC) Stamp Duty Land Tax calculator to work out how much tax you’ll pay.
- You may be able to reduce the amount of tax you pay by claiming relief, eg if you buy more than one property (‘multiple dwellings’).
- The value you pay SDLT on (the ‘consideration’)
- The total value you pay SDLT on (sometimes called the ‘consideration’) is usually the price you pay for the property or land
