Understanding Stamp Duty

Who is this page for?

This page is for first time buyers or people moving house who want to know more about who pays Stamp Duty, when, and how much.

Understanding Stamp Duty

Stamp Duty is a tax you might pay if you’re buying a new property or a house that costs over a certain amount. 

The government has introduced temporary changes to the way Stamp Duty works. If you are buying a home under £500,000, you’ll no longer pay Stamp Duty.

These changes will be in place until the 31st of March 2021.

  • In England and Northern Ireland, it’s called Stamp Duty Land Tax (SDLT). It’s paid when an existing homeowner buys a new house worth more than £500,000.
  • In Wales, it is called the Land Transaction Tax (LTT), which applies to properties worth more than £250,000.
  • Scotland has the Land and Buildings Transaction Tax (LBTT), which is paid when buying a house over £250,000. 

Working out Stamp Duty

The amount of Stamp Duty you pay depends on the price of the property you buy.

In England and Northern Ireland you’ll pay:

Property value

Stamp Duty paid

£0 - £500,000


£500,001 - £925,000


£925,001 - £1.5m




For example, if you’re buying a home worth £600,000, you’d pay 5% Stamp Duty on £100,000. This means you’d pay £5,000 in Stamp Duty.

Who pays Stamp Duty?

Anyone buying a property or piece of land worth over a certain amount has to pay Stamp Duty in England and Northern Ireland.

This could be when buying your first property if it’s over a certain amount, a second home or when you’re moving house.

Do first-time buyers pay Stamp Duty?

Until 31st March 2021, first-time buyers only have to pay Stamp Duty when buying a property worth more than £500,000 in England and Northern Ireland.

When do you pay Stamp Duty?

When buying a house in England or Northern Ireland, you have 14 days from the completion date to pay Stamp Duty.

This law came into effect in March 2019. Previously it was 30 days. Late payments can result in a fine and added interest. 

Buy to Let Stamp Duty

If you’re buying a Buy to Let property, you’ll pay a 3% surcharge. You won’t pay any more Stamp Duty than this, unless the property is valued over £500,000.

Property value

Stamp Duty paid

£0 - £500,000


£500,001 - £925,000


£925,001 - £1.5m





Find out more about Buy to Let mortgages.

The content on this page is for reference and does not constitute finance advice.

For impartial financial advice, we recommend government bodies like the Money Advice Service.

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