Stamp Duty Reduced Rates



Residential Stamp Duty Rates on purchases from 8 July 2020 to 31 March 2021

If you purchase a residential property between 8 July 2020 to 31 March 2021, you only start to pay SDLT on the amount that you pay for the property above £500,000. These rates apply whether you are buying your first home or have owned property before.


SDLT rate

Up to £500,000 Zero

The next £425,000 (the portion from £500,001 to £925,000) 5%

The next £575,000 (the portion from £925,001 to £1.5 million) 10%

The remaining amount (the portion above £1.5 million) 12%


From 8 July 2020 to 31 March 2021 the special rules for first time buyers are replaced by the reduced rates set out above.


Higher rates for additional properties

The 3% higher rate for purchases of additional dwellings applies on top of revised standard rates above for the period 8 July 2020 to 31 March 2021.


The following rates apply:

Property or lease premium or transfer value SDLT rate

Up to £500,000 3%

The next £425,000 (the portion from £500,001 to £925,000) 8%

The next £575,000 (the portion from £925,001 to £1.5 million) 13%

The remaining amount (the portion above £1.5 million) 15%



Source - https://www.gov.uk/guidance/stamp-duty-land-tax-temporary-reduced-rates

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