Stamp duty land tax meaning
Stamp duty land tax is a tax paid by buyers on property purchases in England above a threshold set by HMRC. It is charged in bands, with different rates for first-time buyers and for additional properties. Your conveyancer normally files the return and pays it from your funds after completion.
Stamp duty land tax is one of the terms you are likely to meet when buying or selling a home in England. Here is what it means in plain English, and where it fits into your move.
England only
Stamp duty land tax applies in England and Northern Ireland. Wales charges land transaction tax and Scotland charges land and buildings transaction tax instead, with different thresholds and rules.
Rates and thresholds change, so always check the current HMRC guidance or ask your conveyancer for a figure specific to your purchase.
Key takeaway
Stamp duty land tax is a tax paid by buyers on property purchases in England above a threshold set by HMRC. It is charged in bands, with different rates for first-time buyers and for additional properties. Your conveyancer normally files the return and pays it from your funds after completion.
Frequently asked questions
When do I pay stamp duty?
It is payable after completion, within the deadline set by HMRC. In practice your conveyancer submits the return and pays it from money you provide at completion.
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