Changes in rates of Stamp Duty Land Tax

The temporary reduction in Stamp Duty Land Tax (SDLT) which was introduced in July last year is being gradually phased out.

From 1 July 2021 to 30 September 2021 the 0% threshold is £250,000 and will return to £125,000 from 1st October 2021. First time buyers pay no stamp duty on the first £300,000 where the purchase price is less than £500,000.  

From 1 April 2021 a new increased rate of SDLT will apply to purchases of residential property in England and Northern Ireland by non-UK residents. The rate is 2% above those applying to UK resident buyers. 

Individuals who are buying a property will be classed as non-resident if, in the year before their purchase, they have been outside the UK for 183 days or more. These increased rates will also apply if the purchase is made by two or more people and one of them is classed as non-resident.