Stamp Duty

What is Stamp Duty?

Stamp Duty, also known as Stamp Duty Land Tax (SDLT), is a charge that applies when purchasing a residential property in the UK.

The charge applies regardless of whether the property is new or second hand, and the amount you pay depends on the purchase price and your status as a buyer.

The more expensive the property, the more Stamp Duty you’ll pay. A higher rate of Stamp Duty is also applied if you own more than one home, such as a buy-to-let or a holiday home. There’s good news if you are a first-time buyer though, as the initial threshold at which you start to pay Stamp Duty is higher.

Stamp Duty also applies to both freehold and leasehold properties and whether you are using a mortgage or buying with cash.

For more information on Stamp Duty, head to the government’s website.

How much Stamp Duty will I pay?

Stamp duty rates from 1st April 2025 (England & Northern Ireland)

Purchase price	Main Residence Stamp Duty Rate (A)	Second Home Stamp Duty Rate (B)
Up to £125,000 (£300,000 for first-time buyers) (C)	0%	5%
£125,001 – £250,000	2%	7%
£250,001 – £925,000	5%	10%
£925,001 – £1,500,000	10%	15%
£1,500,001 +	12%	17%

(A) Rate applies to relevant portion of the purchase price. (B) The higher rate does not apply when purchasing an additional property for less than £40,000. (C) The £300,000 first-time buyer stamp duty threshold will not apply when purchasing a property that costs more than £500,000 – if it does, the £150,000 threshold applies.

Stamp Duty Calculator

Use our handy Stamp Duty Calculator to find out how much Stamp Duty you will need to pay when purchasing your new home.

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I’m buying my next home

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You will be required to pay:
£0
in stamp duty

How much Stamp Duty will I pay?

The amount you pay depends on the purchase price, you can calculate how much you'll owe using our calculator above. Stamp Duty is divided into bands shown in the table above, and you'll only pay tax on the portion of your property’s price that falls within each band.

For most buyers purchasing their main home, Stamp Duty is payable on homes over £125,000. However, there's some good news for first-time buyers, as this threshold starts at £300,000 provided you are buying a home for less than £500,000.

It's also important to note that Stamp Duty rates differ across the UK. In England and Northern Ireland, the rates are the same, but if you're buying in Scotland or Wales, you’ll be subject to different rates.

When do you need to pay Stamp Duty?

Once you've completed the purchase of your new home, you have 14 days to submit your Stamp Duty return and make any payment due, this will typically be completed by your solicitor. If you exceed this time frame, you may be faced with penalties or interest charges from HMRC.

Frequently asked Questions

Expert advice and guidance at Bovis Homes

For further advice and guidance on stamp duty, the buying process, or our new build homes near you, get in touch with our helpful sales team.

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Moving house is stressful enough already, so we aim to alleviate some of that stress. With Home Exchange you can have peace of mind knowing that we are your guaranteed buyer.

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Smooth Move is our scheme for all existing property owners to save time and money. We deal with the estate agents to sell your home and even pay the estate agents’ fees!

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With Deposit Unlock you could purchase a new Bovis Home up to the value of £750,000 with just a 5% deposit!

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Stamp Duty

Need a hand getting to grips with Stamp Duty rates?

What is Stamp Duty?

How much Stamp Duty will I pay?

Stamp Duty Calculator

How much Stamp Duty will I pay?

When do you need to pay Stamp Duty?

Frequently asked Questions

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