If you’re about to buy a new home in England or Northern Ireland, you may be wondering what the Stamp Duty rates are and how much you’ll have to pay. One thing to note is that Stamp Duty rates have changed as of 1st April 2025. Therefore, if you started planning your move a while ago, the amount of Stamp Duty you’ll have to pay may be different now compared to when you last checked, so be sure to read on to see the current rates.
In this guide, we’ll explain what Stamp Duty is, how and when you pay it, and what the current Stamp Duty tax bands are. We’ve also highlighted the main changes to be aware of for First Time Buyers, home movers, and buyers of second homes, so you can fully understand how you’ll be affected by the new rates that have come into play.
What is Stamp Duty?
Stamp Duty, officially known as Stamp Duty Land Tax (SDLT), is a tax you pay when you buy a property (or land) in England and Northern Ireland. The rate of Stamp Duty you pay depends on the type of buyer you are and the value of the purchase. In most cases, you’ll pay a combination of rates because different rates are applied to different portions of the property’s value.
For example, if you’re moving house and the new property costs £500k, you would currently pay 0% on the first £125k, 2% on the next £125k, and 5% on the last £250k, coming to a total of £15,000.
You can see all the current Stamp Duty tax bands later in this guide along with the main changes to be aware of.
When Do You Have to Pay Stamp Duty?
You have 14 days after you’ve completed your property purchase to pay Stamp Duty. If you don’t pay within this time frame you may be liable for penalties and interest.
How Do You Pay Stamp Duty?
You pay Stamp Duty by submitting an SDLT return with the appropriate payment to HMRC. Typically, your solicitor will help you with this and handle the actual transaction. However, remember that the responsibility ultimately lies with you, so be sure to be proactive with settling your Stamp Duty payment.
Why Did Stamp Duty Change?
Stamp Duty rates were temporarily reduced in the mini-budget of September 2022. However, they have returned to the previous higher rates as of 1st April 2025. The Stamp Duty rates that apply to you depend on whether you’re buying your first home, moving home, or buying a second property – so be sure to look at the correct section below to figure out how much you’ll need to pay.
Stamp Duty Rates for First Time Buyers
Stamp Duty for First Time Buyers now kicks in at £300,000 – you’ll need to pay 5% of the property’s value between £300,000 and £500,000. Any home that is above £500,000 does not qualify for the First Time Buyer discount. These buyers will be treated the same as if they have previously owned a property, and therefore the ‘Home Movers’ rates will apply.
Current Stamp Duty Rates for First Time Buyers
| Proportion of Property Value | Stamp Duty Rate (First Time Buyers) |
| Up to £300,000 | 0% |
| £300,001 to £500,000 | 5% |
Stamp Duty Rates for Home Movers
Stamp Duty for home movers now kicks in at £125,000 – you’ll need to pay 2% of the property’s value between £125,000 and £250,000. The remaining rate bands have remained unchanged.
Current Stamp Duty Rates for Home Movers
| Proportion of Property Value | Stamp Duty Rate (Home Movers) |
| 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% |
Stamp Duty Rates for Second Homes
Stamp Duty for second homes kicks in instantly at 5% as before, but there is now an additional 2% to pay on the property’s value between £125,000 and £250,000. The remaining rate bands have remained unchanged.
Current Stamp Duty Rates for Second Homes
| Proportion of Property Value | Stamp Duty Rate (Home Movers) |
| Up to £125,000 | 5% |
| £125,001 to £250,000 | 7% |
| £250,001 to £925,000 | 10% |
| £925,001 to £1.5 million | 15% |
| Over £1.5 million | 17% |
The Bottom Line
Stamp Duty Land Tax is a tax you may have to pay when purchasing a new property or piece of land in England or Northern Ireland (Scotland and Wales have a different tax). You have 14 days to pay Stamp Duty after completion of the purchase, and this usually happens via your solicitor. Different Stamp Duty rates are applied to different portions of the purchase price, and the tax bands and rates vary depending on whether you are a First Time Buyer, home mover, or buyer of a second home. The most favourable rates are for First Time Buyers and the least favourable rates are for buyers of second homes.
As of 1st April 2025, Stamp Duty rates have changed for all three types of buyers. You can see the current rates in this guide as well as the main changes. Overall, for most buyers, Stamp Duty rates have increased. However, it’s worth remembering that this is just a return to normal, as the previous lower rates were temporarily discounted in September 2022. If you would like to learn more about Stamp Duty, mortgages, or any other part of the home-buying process, please book a chat with one of our advisors and we’ll be happy to help you.
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