Stamp duty land tax holiday illustrated

We've illustrated the effect of the stamp duty land tax (SDLT) holiday announced by the chancellor on individual buyers of residential property in England for purchases completed or substantially performed between 8 July 2020 and 31 March 2021.

The rules are different for properties in Wales.

First time buyers' relief rates

Pre-/post-holiday rates Holiday rates
SDLT band Rate SDLT band Rate
Up to £300,000 0% Up to £500,000 0%
£300,001 to £500,000 5%

For properties sold for more than £500,000, the rules for non-first-time buyers apply.

For more detail, see the government's guidance on reliefs and exemptions and HM Revenue and Customs' guidance note on SDLT relief for first time buyers.

Main residential home purchase standard rates (non-first-time buyers)

Pre-/post-holiday rates Holiday rates
SDLT band Rate SDLT band Rate
Up to £125,000 0% Up to £500,000 0%
£125,001 to £250,000 2% £500,001 to £925,000 5%
£250,001 to £925,000 5% £925,001 to £1,500,000 10%
£925,001 to £1,500,000 10% £1,500,001 and above 12%
£1,500,001 and above 12%

See the government's guidance on residential property rates.

Higher rates for additional dwellings

Additional dwellings, such as second homes and buy-to-let properties, are subject to higher SDLT rates.

Pre-/post-holiday rates Holiday rates
SDLT band Rate SDLT band Rate
Up to £125,000 3% Up to £500,000 3%
£125,000 to £250,000 5% £500,001 to £925,000 8%
£250,001 to £925,000 8% £925,001 to £1,500,000 13%
£925,001 to £1,500,000 13% £1,500,001 and above 15%
£1,500,001 and above 15%  

See the government's guidance on higher SDLT rates on purchases of additional residential properties.

What do the holiday rates mean for SDLT payable on residential property purchases by individuals at different price points?

Property price SDLT at standard residential property rates SDLT at higher rates for additional dwellings
£100,000 £0 £3,000
£200,000 £0 £6,000
£300,000 £0 £9,000
£400,000 £0 £12,000
£500,000 £0 £15,000
£600,000 £5,000 £23,000
£700,000 £10,000 £31,000
£800,000 £15,000 £39,000
£900,000 £20,000 £47,000
£1,000,000 £28,750  £58,750
£1,100,000 £38,750 £71,750
£1,200,000 £48,750 £84,750
£1,300,000 £58,750 £97,750
£1,400,000 £68,750 £110,750
£1,500,000 £78,750 £123,750
£1,600,000 £90,750 £138,750

Here's the information illustrated in bar and line chart forms:

Watch out for situations not necessarily covered by the illustrations above, such as:

  • purchases by companies or other non-natural persons
  • linked transactions
  • new leasehold sales and transfers
  • if the property price is not the same as relevant consideration for SDLT purposes
  • cases where multiple dwellings relief might apply
  • properties with annexes, subsidiary dwellings, paddocks or fields
  • shared ownership properties
  • not sold old main residence when buying a new main residence

If in doubt, seek specialist advice.

Resources

GOV.UK guidance on SDLT for different types of property purchase

Further GOV.UK resources on stamp duty