🏡 What’s New with Stamp Duty from April 1st, 2025?
If you’re in the property market or just keeping an eye on the latest updates, here’s the scoop: the UK Government has introduced new stamp duty rules effective from 1st April 2025 — and yes, they could affect your next move.
Let’s break it down.
🔍 Quick Recap: What is Stamp Duty?
Stamp Duty Land Tax (SDLT) is what you pay when you buy property or land in England and Northern Ireland. The rate depends on the property price, whether you’re a first-time buyer, and if the property is a second home or buy-to-let.
✅ What Changed on April 1st?
Here are the key updates:
New Thresholds for Main Residences from April 2025
- 0% on properties up to £125,000
- 2% on the portion from £125,001 to £250,000
- 5% on the portion from £250,001 to £925,000
- 10% on the portion from £925,001 to £1.5 million
- 12% on the portion above £1.5 million
Decreased Thresholds for First-Time Buyers
First-time buyers will see a lower threshold for tax exemption. They will now be able to purchase properties up to £300,000 without paying stamp duty. For properties priced between £300,001 and £500,000, a reduced rate of 5% will apply.
Changes for Second Homes and Buy-to-Let Properties
If you are purchasing an additional property, whether as a second home or a buy-to-let investment, the following rates will apply:
New Rates from April 2025:
- 5% on properties up to £125,000
- 7% on the portion from £125,001 to £250,000
- 10% on the portion from £250,001 to £925,000
- 15% on the portion from £925,001 to £1.5 million
- 17% on the portion above £1.5 million
🧠 Final Thoughts: What Should You Do?
These changes may seem small, but they can make a big difference in your buying power — or how much cash you’ll need upfront.
✅ Buying soon? Make sure your solicitor is up to date.
✅ Not sure where you stand? Speak to a mortgage adviser or tax professional.
✅ Want to keep up with the latest? Keep checking our website or follow us at http://www.facebook.com/Spectrumsolicitors/