There is still time to purchase before the stamp duty change but ONLY JUST. Time to take a look and our open home weekend is timed perfectly….
“What are the changes?” we hear you ask….
All the up to date information can be found on this link:
Stamp Duty Land Tax: Residential property rates – GOV.UK
But to summarise…
For a single standard residential transaction
The current Stamp Duty rates until the end of March 2025
From the 1st April 2025 standard residential purchases:
NOTE You would pay 5% on top of these rates if you own another residential property. If you go on to sell your main home within 36 months you can apply for a refund of the surcharge. See the conditions at HMRCs web link above.
First time buyers transactions
These continue to see some benefit but not to the same extent
The current first-time buyer stamp duty rates until the end of March 2025
The first time buyer rates from 1st April 2025 are:
If the price is over £500,000 you can not claim the relief.
The government stamp duty calculator is found on this link to help:
Stamp Duty Land Tax Calculator
For further information on selling or buying please do contact our teams.