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Stamp Duty Holiday: NO stamp duty on properties up to £500K

Stamp Duty Holiday: NO stamp duty on properties up to £500K

Did you know homebuyers will be given a stamp duty holiday of up to £500k until next April. 

Before this Stamp Duty Holiday the threshold of where you start paying stamp duty for first-time buyers in England and Northern Ireland is £125,000, or £300,000 (if buying a property worth less than £500,000).="margin-bottom:>

How Stamp Duty Works

  • Nothing on properties purchased for up to £125,000
  • 2% of the portion of a property between £125,001 and £250,000
  • 5% of the portion between £250,001 and £925,000
  • 10% of the portion between £925,001 and £1,500,000
  • 12% of the portion costing more than £1,500,001

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The stamp duty holiday started from Wednesday 8 July and will end on 31 March next year (2021) in England and Northern Ireland. The Treasury says nine out of 10 people either getting on or moving up the property ladder (or downsizing) this year will pay no stamp duty as a result. 

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