Question 1

Do first-time buyers pay stamp duty in the UK?

Accepted Answer

First-time buyers in England and Northern Ireland currently pay no Stamp Duty on properties up to £425,000. For properties priced between £425,001 and £625,000, they pay 5% SDLT on the portion above £425,000. If the property price is over £625,000, standard SDLT rates apply to the entire price.

Question 2

What is the stamp duty surcharge for a second home?

Accepted Answer

If you are buying an additional residential property (like a second home or buy-to-let) in England or Northern Ireland, you must pay an extra 3% surcharge on top of the standard Stamp Duty rates across all price bands.

Question 3

When do I have to pay stamp duty?

Accepted Answer

You must submit an SDLT return and pay the tax due to HMRC within 14 days of completing the purchase of your property. Usually, your solicitor or conveyancer will handle this on your behalf.

Stamp Duty Calculator (SDLT)

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