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Stamp duty on second home

If you purchase a residential property, then you have to pay Stamp Duty Land Tax (SDLT) above £125,000

Present rates of SDLT on individual and additional properties are as follows:

·         Purchase price up to £125,000 – SDLT rate Zero; auxiliary property rate 3%

·         Thereupon, £125,000 (portion from £125,001 to £250,000) – SDLT rate 2%; additional property rate 5%

·         Thereupon £675,000 (portion from £250,000 to £925,000) – SDLT rate 5%; additional property rate 8%

·         Thereupon £575,000 (portion from £925,000 to £1.5m) – SDLT rate 10%; additional property rate 13%

·         The rest of the amount (portion above £1.5m) – SDLT rate 12%; additional property rate 15%

Please note this on strict basis: SDLT no longer appertains in Scotland, where a Land and Buildings Transaction Tax (LBTT) are charged instead.