From 1st April 2025, the temporary Stamp Duty Land Tax (SDLT) thresholds introduced in September 2022 will end, returning to pre-2022 levels. These changes affect all buyers, but first-time buyers will feel the biggest impact. Here’s a quick overview of what’s happening and how it might affect you.

Stamp Duty Land Tax Key Changes at a Glance

Standard Purchases (Main Residence)

Current:

Up to £250,000

0%

£250,001 to £925,000

5%

£925,001 to £1.5 million

10%

Over £1.5 million

12%

From 1st April 2025:

Up to £125,000

0%

£125,001 to £250,000

2%

£250,001 to £925,000

5%

£925,001 to £1.5 million

10%

Over £1.5 million

12%

First-Time Buyers

Current:

Up to £425,000

0%

£425,001 to £625,000

5%

From 1st April 2025:

Up to £300,000

0%

£301,000 to £500,000

5%

For example, if you’re a first-time buyer looking to buy a £400,000 house in England, you’ll start paying Stamp Duty at £300,000. Your total charge would be £5,000. As of 1st April 2025, there will be an extra band added into the Stamp Duty thresholds for additional property purchases, reflective of the general Stamp Duty changes.

Additional Properties

Current:

Up to £250,000

5%

£250,001 to £925,000

10%

£925,001 to £1.5 million

15%

Over £1.5 million

17%

From 1st April 2025:

Up to £125,000

5%

£125,001 to £250,000

7%

£250,001 to £925,000

10%

£925,001 to £1.5 million

15%

Stamp Duty Land Tax Completion Deadlines

If you’re aiming to complete before 1st April 2025, please note that no guarantees can be given regarding exact completion dates. Finalising a property purchase depends on many factors, which are beyond our control. It is important to understand that if we are presently awaiting your Mortgage Offer, Local Authority Search or Leasehold Management Information it is unlikely that your property transaction will complete before the 31st March 2025 deadline. These customers must ensure that they have sufficient finance available to pay the Stamp Duty Land Tax liability for their property transaction as at the 1st April 2025 threshold rates. While we will do everything we can to achieve your desired completion date, DezrezLegal will not be held liable for any delays or an inability to achieve completion for you by the 31st March 2025.

Financial Preparedness

If you suspect your purchase might slip past 31st March 2025, ensure you have enough funds to cover the increased Stamp Duty.

How to Help Us Help You

• Consolidate your emails: Whenever possible, send all requested documents and information together in one email.
• Email over phone: This helps our team respond more quickly and keeps a clear record of everything.
• Allow for response time: We do our best to reply promptly, but during busy periods we can’t always respond within 24 hours.
• Be flexible with completion dates: If we can complete your transaction before 1st April 2025, choosing a weekday rather than a Friday may speed up the process (and ensure removal services are available).
• Respect our team: Please be mindful that our team are doing all they can to help you. We understand this is stressful, but please remain polite. We will not tolerate aggression in any communication with our team. If you have concerns, speak with your Conveyancer first or email complaints@dezrezlegal.co.uk you feel the matter needs to be escalated.

Useful Resources & Contacts

SDLT Calculator (England): www.gov.uk/stamp-duty-land-tax/residential-property-rates
Land Transaction Tax Calculator (Wales): www.gov.wales/land-transaction-tax-rates-and-bands

Questions? Please email stampduty@dezrezlegal.co.uk. We’ll be happy to help.

We appreciate your patience and cooperation as we work to complete transactions as swiftly as possible. Keeping these changes in mind and staying prepared will help ensure a smoother process. If you’re unsure about any aspect of these upcoming Stamp Duty changes, or how they might impact your move, please get in touch, and we’ll do our best to guide you.