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Stamp Duty holiday has been extended

Stamp Duty savings have been extended by the Government for home buyers in England.

This means, if you buy a home up to the value of £500,000, you won’t need to pay any Stamp Duty, and even if you are buying a home over £500,000, you will make a saving. So now could be a great time to buy your new home.

What do the changes mean for you?

Stamp Duty is the tax charged by the Government when you buy a home.

Following the Government announcement in England:

  • No Stamp Duty is payable on homes up to £500,000, so you could save up to £15,000 until 30th June 2021.

  • From 1st July 2021, if you or anyone else buying your home is a first time buyer and the purchase price is under £300,000 you will pay no Stamp Duty. If the purchase price is between £300,001 and £500,000 you will only pay 5% Stamp Duty on this portion.
  • From 1st July until 30th September, there will be an interim £250,000 threshold, meaning existing homeowners could save up to £2,500.
  • It will then be returning to normal from October, so act now to benefit from these savings.
Stamp Duty Holiday Extension

How much is Stamp Duty?

Stamp duty

Rates until 30th June 2021

For homes over £500,000 there is still no Stamp Duty to pay on the first £500,000, then the following rates apply:

Purchase Price

Stamp Duty %

£0 to £500,000

0% (Zero)

£500,001 to £925,000

5% 

£925,001 to £1,500,000

10%

Over £1,500,000

12%

Rates from 1st July 2021 to 30th September 2021, if you're an existing homeowner

For homes over £250,000 there is still no Stamp Duty to pay on the first £250,000, then the following rates apply:

Purchase Price

Stamp Duty %

£0 to £250,000

0% (Zero)

£250,001 to £925,000

5% 

£925,001 to £1,500,000

10%

Over £1,500,000

12%

Rates from 1st July 2021 to 30th September 2021, if you're a first time buyer

For homes under £500,000 the following rates apply:

Purchase Price

Stamp Duty %

£0 to £300,000

0% (Zero)

£300,001 to £500,000

5% 

Use our Stamp Duty calculator

If you’ve found the home you’ve been looking for and are wondering how much Stamp Duty you’ll have to pay, use our Stamp Duty Calculator today.

With the Government across the UK reducing Stamp Duty from now until 30th June 2021 you could make a large saving when purchasing a home. Our calculator will show you how much you’ll pay, but also how much you could save too.

Enter your details in the calculator and find out how much Stamp Duty you’ll pay on your new home.

What if I am an investor or own more than one property?

Rates until 30th June 2021

If you are buying an investment property or an additional home, the following rates will apply to your purchase:

Purchase Price

Stamp Duty %

£0 to £500,000

3%

£500,001 to £925,000

8%

£925,001 to £1,500,000

13%

Over £1,500,000

15%

Rates from 1st July 2021 to 30th September 2021

If you are buying an investment property or an additional home, the following rates will apply to your purchase:

Purchase Price

Stamp Duty %

£0 to £250,000

3%

£250,001 to £925,000

8%

£925,001 to £1,500,000

13%

Over £1,500,000

15%

Buying in Scotland and Wales

The Maidstone

Stamp Duty in Scotland is referred to as the Land and Buildings Transaction Tax (LBTT) and is charged when you buy a home of more than £250,000.

See more detail on LBTT (Scotland)

Stamp Duty in Wales is referred to as the Land Transaction Tax (LTT) and is charged when you buy a home of more than £250,000.

See more detail on LTT (Wales)