Learn 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.
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, in England. If you are buying a residential property, there are different rates of SDLT if you are a first time buyer, are buying an additional property or are not a UK resident.
The threshold is where SDLT starts to apply. The current SDLT threshold for residential properties is £125,000. If you buy a property for less than the threshold, there's no SDLT to pay.
Tax rates differ between England and Wales. You must pay Land Transaction Tax (LTT) if you buy a property or land over a certain price threshold in Wales. The threshold is where the tax starts to apply. The current LTT threshold is £180,000 for residential properties (if you do not own another property).
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.
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.
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.
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.