It was announced that the stamp duty holiday which was originally going to come to an end on 31 March 2021 has now been extended
Overview
You must pay Stamp Duty Land Tax (SDLT) if you buy a property or land over a certain price in England and Northern Ireland.
The tax is different if the property or land is in:
Scotland – pay Land and Buildings Transaction Tax
Wales – pay Land Transaction Tax if the sale was completed on or after 1 April 2018
You pay the tax when you:
buy a freehold property
buy a new or existing leasehold
buy a property through a shared ownership scheme
are transferred land or property in exchange for payment, for example you take on a mortgage or buy a share in a house
Thresholds
The threshold is where SDLT starts to apply. If you buy a property for less than the threshold, there’s no SDLT to pay.
The current SDLT threshold for residential properties is £500,000. This changes on 1 July 2021.
The threshold for non-residential land and properties is £150,000.
Property purchases from 1 July 2021 to 30 September 2021
The SDLT thresholds will be:
£250,000 for residential properties
£150,000 for non-residential land and properties
The threshold for residential properties will change on 1 October 2021.
Property purchases from 1 October 2021
The SDLT thresholds will be:
£125,000 for residential properties
£150,000 for non-residential land and properties
These thresholds are the same as they were before 8 July 2020.
Source https://www.gov.uk/stamp-duty-land-tax/residential-property-rates
