2022 Stamp Duty (SDLT) Changes Explained | Grace Homes

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Read the Latest on Stamp Duty Changes 2022

Changes to the house price threshold at which stamp duty land tax (SDLT) becomes payable mean most homebuyers, particularly first-time buyers, will benefit.

The changes, which are effective immediately, see the threshold at which stamp duty becomes payable rise from £125k to £250k. This means stamp duty is not payable on the first £250k of a house purchase*. In the case of first-time buyers, this threshold is even greater, with the first £425k of any house purchase being free from stamp duty tax.

The new thresholds are:

  • 0%: £0 - £250,000 (or £0 - £425,000 for first time buyers**)
  • 5%: £250,001 - £925,000
  • 10%: £925,001 - £1,500,000
  • 12%: £1,500,001 and over

To put this into context, existing homeowners buying a property of £550,000 will now pay £2,500 less in stamp duty, and a first-time buyer purchasing a property of the same value will now pay £6,250 less in stamp duty. View the new homes we have for sale here.

HOUSE PRICE

EXISTING HOMEOWNER

FIRST-TIME BUYER

STAMP DUTY

SAVING

STAMP DUTY

SAVING

£350,000

£5,000

£2,500

£0

£2,500

£550,000

£15,000

£2,500

£6,250

£6,250

* The rules for second home ownership differ. Calculate stamp duty based on your specific circumstances here.

** The first time buyer discount is only applicable on properties up to a value of £625,000 (this has been increased from £500,000). A purchase of a property valued over this threshold would fall under the same thresholds that an existing homeowner would pay.

Changes to the house price threshold at which stamp duty land tax (SDLT) becomes payable mean most homebuyers, particularly first-time buyers, will benefit.

The changes, which are effective immediately, see the threshold at which stamp duty becomes payable rise from £125k to £250k. This means stamp duty is not payable on the first £250k of a house purchase*. In the case of first-time buyers, this threshold is even greater, with the first £425k of any house purchase being free from stamp duty tax.

The new thresholds are:

  • 0%: £0 - £250,000 (or £0 - £425,000 for first time buyers**)
  • 5%: £250,001 - £925,000
  • 10%: £925,001 - £1,500,000
  • 12%: £1,500,001 and over

To put this into context, existing homeowners buying a property of £550,000 will now pay £2,500 less in stamp duty, and a first-time buyer purchasing a property of the same value will now pay £6,250 less in stamp duty. View the new homes we have for sale here.

HOUSE PRICE

EXISTING HOMEOWNER

FIRST-TIME BUYER

STAMP DUTY

SAVING

STAMP DUTY

SAVING

£350,000

£5,000

£2,500

£0

£2,500

£550,000

£15,000

£2,500

£6,250

£6,250

* The rules for second home ownership differ. Calculate stamp duty based on your specific circumstances here.

** The first time buyer discount is only applicable on properties up to a value of £625,000 (this has been increased from £500,000). A purchase of a property valued over this threshold would fall under the same thresholds that an existing homeowner would pay.

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