Stamp duty explained — how it works for first time buyers in England

Stamp Duty Land Tax (SDLT) is the tax paid on property purchases in England and Northern Ireland. Scotland and Wales have their own equivalents (LBTT and LTT).

Current rates in England (from October 2022)

• Up to £250,000: 0%
• £250,001–£925,000: 5%
• £925,001–£1.5m: 10%
• Above £1.5m: 12%

First time buyer relief

First time buyers pay 0% on the first £425,000 and 5% on £425,001–£625,000. Properties above £625,000 do not qualify for first time buyer relief. This relief significantly reduces the tax bill for most first time buyers in England.

Additional property surcharge

Buying an additional property (second home, buy-to-let) incurs a 5% surcharge on top of standard rates from October 2024.

Track your homebuying journey with our free first time buyer checklist.