[SDLTM00055] SDLTM00055 – Introduction to Stamp Duty Land Tax (SDLT): Temporary reduced rates
If you purchase a residential property between 8 July 2020 and 30 June 2021, you only start to pay SDLT on the amount that you pay for the property above £500,000. These rates apply whether you are buying your first home or have owned property before.
You can use the table to work out the SDLT due:
Property or lease premium or transfer value
Up to £500,000
The next £425,000 (the portion from £500,001 to £925,000)
The next £575,000 (the portion from £925,001 to £1.5 million)
The remaining amount (the portion above £1.5 million)
From 8 July 2020 to 30 June 2021 the special rules for first time buyers are replaced by the reduced rates set out above.