The Stamp Duty holiday that has allowed home buyers to purchase their dream home with lower stamp duty fees, or even without any fees at all, is coming to an end.
Stamp Duty Land Tax, often referred to as SDLT or Stamp Duty, is a tax required on all property purchases in England. There are different rates of Stamp Duty for first time buyers, home movers and those who are buying an additional property.
The government initiative put in place in September 2022 has helped people make substantial savings, however, the rates are set to increase from 1st April 2025 so if you have your eye on a new home this year, now could be the perfect time to make the move.
Take advantage of more flexibility and savings when you purchase a home by the end of March. See below for an idea of the change in Stamp Duty.
Now until 31st March 2025
- First-time buyers:
0% to pay on properties up to £425,000
5% to pay on the portion from £425,001 to £625,000
- Home movers:
0% to pay on properties up to £250,000
5% to pay on the portion from £250,001 to £925,000
From 1st April 2025 onwards
- First-time buyers:
0% to pay on properties up to £300,000
5% to pay on the portion from £300,001 to £500,000 - Home movers:
0% to pay on properties up to £125,000
2% to pay on the portion from £125,001 to £250,000
5% to pay on the portion from £250,001 to £925,000
Don’t miss out. Explore our stunning range of homes at our perfectly located developments, offering you modern, energy efficient living in enviable surroundings.
You can find out more about Stamp Duty Land Tax on the gov.uk website here.