What does the 30th of June end of SDLT Holiday mean for me?

You still have relief up till £250,000.

Rates from 1st July 2021 to 30th September 2021.

Property or lease premium or transfer value

SDLT Rate

Up to £250,000

0%

The next £675,000 (the portion from £250,001 to £925,000)

5%

The next £575,000 (the portion from £925,001 to £1.5 million)

10%

The remaining amount (the portion above £1.5 million)

12%

What if I am higher rate payer?

Higher rates from 1st July 2021 to 30th September 2021.

Property or lease premium or transfer value

SDLT Rate

Up to £250,000

3%

The next £675,000 (the portion from £250,001 to £925,000)

8%

The next £575,000 (the portion from £925,001 to £1.5 million)

13%

The remaining amount (the portion above £1.5 million)

15%

What if I am a First Time buyer?

In England and Northern Ireland you will pay no SDLT on properties worth up to £300,000. For properties up to £500,000 you will pay no SDLT on the first £300,000 but will then pay 5% on the remaining amount. If the property you’re buying is worth over £500,000, you will need to pay the standard rates of Stamp Duty and won’t qualify for first-time buyer’s relief.

If you wish to check your SDLT amount then please use the following calculator: https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro

Call Holly Quantrill, Lawyer on 01473 229868 to get your conveyancing started today.