March 2025 is creeping up quickly, making it crunch time to make sure you get the keys to a property you love.
When the Stamp Duty threshold changes, you’ll need to have completed on your purchase before 1st April to benefit from any Stamp Duty savings.
Stamp Duty Land Tax (SDLT or Stamp Duty) is the tax payable on completion to HM Revenue and Customs (HMRC) when buying a property or land in England. As the rates are tiered, you will pay different rates on different portions of the property price. More on that in the tables below.
The thresholds for Stamp Duty are changing, which affects first time buyers and second time buyers depending on the value of the property they are buying. You could potentially save thousands of pounds in Stamp Duty costs by completing before the changes take place.
English Stamp Duty Tax rates for second time buyers up to 31 March 2025:
| Property value | Stamp Duty Land Tax Rate |
| Up to £250,000 | 0% |
| The portion from £250,001 to £925,000 | 5% |
| The portion from £925,001 to £1.5 million | 10% |
| The remaining portion above £1.5 million | 12% |
English Stamp Duty Tax rates for second time buyers from 1 April 2025:
| Property value | Stamp Duty Land Tax Rate |
| Up to £125,000 | 0% |
| The portion from £125,001 to £250,000 | 2% |
| The portion from £250,001 to £925,000 | 5% |
| The portion from £925,001 to £1.5 million | 10% |
| The remaining portion above £1.5 million | 12% |
English Stamp Duty for first-time buyers:
| Stamp Duty rates (up to 31 March 2025) | Stamp Duty rate (1 April 2025 onwards) |
| 0% for the portion up to £425,000 | 0% for the portion up to £300,000 |
| 5% for the portion between £425,001 and £625,000 | 5% for the portion between £300,001 and £500,000 |
| Over £625,000, the first-time buyer relief cannot be claimed | Over £500,000, the first-time buyer relief cannot be claimed |
This article does not represent advice and is for guidance only. You should seek advice from your conveyancer or solicitor.
Correct at time of publishing: 03/12/2024
