Changes to Stamp Duty

The Chancellor Kwasi Kwarteng announced changes to stamp duty (SDLT) with immediate effect in the government's mini-budget on 23 September.

The rates are now:
0%: £0 - £250,000

5%: £250,001 - £925,000

10%: £925,001 - £1,500,000

12%: £1,500,000+

Discounted stamp duty for first-time buyers will now apply to properties costing up to £625,000 - up from £500,000 - where no SDLT will be payable up to £425,000 and then 5% SDLT on the portion from £425,001 to £625,000. If the property value is over £625,000 no relief is allowed.

Posted on 6 October, 2022 by Ortolan

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