The clock is ticking to save on Stamp Duty

Time is running out for you to save thousands when buying your home. The Stamp Duty Holiday in England is coming to an end on 31st March 2025. Don’t miss out.

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.

What is Stamp Duty?

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.

What are the Stamp Duty changes after 31st March 2025?

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%

If you’re a first-time buyer, the rates are slightly different and will change as follows:

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

First time buyers will have to pay Stamp Duty on properties over £300,000 (previously £425,000).

Properties valued above £500,000 will not qualify for first-time buyer relief. This means that you will need to follow the rules for home movers.

Want more clarity on how this could affect your property purchase? We recommend talking to a conveyancing expert who will be able to assist you.

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
MKT/UKON/031224

The clock is ticking to save on Stamp Duty

Time is running out for you to save thousands when buying your home. The Stamp Duty Holiday in England is coming to an end on 31st March 2025. Don’t miss out.

What is Stamp Duty?

What are the Stamp Duty changes after 31st March 2025?

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