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Author Archive: Amy Pierce

Stamp Duty on Second Homes

Posted by on February 20th 2017 in Blog Posts, Conveyancing

Stamp Duty on Second Homes

What is Stamp Duty Land Tax?

Stamp Duty Land Tax (‘SDLT’) is payable to H M Revenue & Customs where chargeable consideration is given in return for property or land – this is not limited to purely monetary consideration. 

SDLT on main residence:

In general, for residential property purchases, SDLT is payable at the following rates on your MAIN home or residence:

  • Up to a price of £125,000.00: 0% of the purchase price
  • The next £125,000.00 (the portion from £125,001.00 to £250,000.00): 2% of the purchase price
  • The next £675,000.00 (the portion from £250,001.00 to £925,000.00): 5% of the purchase price
  • The next...

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