What is Stamp Duty?
Stamp Duty Land Tax (SDLT) is a tax you pay when buying property in England and Northern Ireland. Different property taxes and rules apply in Scotland (LBTT) and Wales (LTT).
First Time Buyer Relief
First time buyers benefit from stamp duty relief, meaning you pay less (or nothing) compared to other buyers. Eligible first-time buyers currently pay 0% SDLT on the first £300,000 when buying a property costing £500,000 or less.
Current first time buyer stamp duty rates (England and Northern Ireland):
- £0 - £300,000: 0% (no stamp duty)
- £300,001 - £500,000: 5% on the amount above £300,000
- Above £500,000: Standard rates apply (no first time buyer relief)
Example: Buying a £400,000 property as an eligible first time buyer. You pay 0% on the first £300,000 and 5% on the remaining £100,000 = £5,000 stamp duty. This is an estimate only — rules can change and individual circumstances may affect the amount payable.
Who Qualifies as a First Time Buyer?
To qualify for first time buyer relief, you must never have owned a property anywhere in the world. This applies to all buyers if purchasing jointly.
If you're buying with someone who has owned property before (even if they've sold it), you won't qualify for first time buyer relief. The standard rates will apply to the whole purchase.
When Do You Pay?
Stamp duty is due within 14 days of completion. Your solicitor will usually handle this for you, collecting the money as part of the completion process.
Standard Rates for Comparison
If you don't qualify for first time buyer relief, or your property costs more than £500,000, standard rates apply.
Standard stamp duty rates (England and Northern Ireland):
- £0 - £125,000: 0%
- £125,001 - £250,000: 2%
- £250,001 - £925,000: 5%
- £925,001 - £1,500,000: 10%
- Above £1,500,000: 12%
Check the latest rules
Stamp Duty rules can change. Last updated August 2026. You can check the current residential rates on GOV.UK at https://www.gov.uk/stamp-duty-land-tax/residential-property-rates