Stamp duty rates have changed in 2025 and vary depending on the property type and buyer status. Here are the main points for England:
- For main residences:
- 0% on the first £125,000
- 2% on the portion between £125,001 and £250,000
- 5% on the portion between £250,001 and £925,000
- 10% on the portion between £925,001 and £1.5 million
- 12% on the portion above £1.5 million
- For first-time buyers:
- 0% on the first £300,000
- 5% on the portion between £300,001 and £500,000
- No relief for properties above £500,000; standard rates apply
- For additional properties (like second homes or buy-to-let):
- An extra 5% surcharge applies on top of the normal rates, starting from £125,001
The threshold for zero stamp duty was lowered from £250,000 to £125,000 for main residences from April 1, 2025. First-time buyers' relief threshold dropped from £625,000 to £500,000. Example: On a £300,000 property, a first- time buyer would pay £5,000 in stamp duty, while a regular buyer would pay £3,750. These changes generally mean more homebuyers will be required to pay stamp duty than before April 2025.
