Learn more about Stamp Duty
Discover all you need to know about Stamp Duty and how much you may need to pay when purchasing your new home by using our Stamp Duty payment calculator.
What is Stamp Duty?
Stamp Duty Land Tax, often referred to as SDLT or Stamp Duty, is a tax due on all property purchases, new or pre-owned. If you’re not a first-time buyer, this applies to all properties worth over £125,000 across England only, and comes into effect when you purchase land or other buildings too. If you’re buying a home in Wales costing more than £180,000, you’ll have to pay Land Transaction Tax (LTT) on your purchase. Please note tax rates differ between England and Wales.
How much will I have to pay?
Before December 2014, the figure was just a uniform percentage of the total purchase price. But now it ranges from 0% on the first £125,000 of the property price, to 12% of the value over £1.5m. The tax in the rate bands increases with the overall property value at the time of purchase.
Rates on your first homeFirst-time buyers do not pay Stamp Duty on the first £300,000 of their home. Therefore, if you buy your first home for less than this, you will not pay any Stamp Duty. With properties valued up to £500,000, you won’t pay any Stamp Duty on the first £300,000.
If you buy your home for between £300,001 and £500,000, you’ll only pay 5% on that portion of the purchase price. The standard Stamp Duty rates apply to properties valued over £500,000. Use the calculator below to work out how much Stamp Duty you’ll need to pay on your new home.
Home mover rates
When you buy a property you're planning to live in (and you've owned a property before), you'll pay Stamp Duty on each portion of the property price, however you won’t pay any if you buy a residential property that costs less than £125,000. Use the calculator below to work out how much Stamp Duty you’ll need to pay on your new home.
Ways to help you move
Discover how easy and affordable moving into a new Redrow home can be when you use our range of incentives that are designed to help you move.