SDLTM29815 - SDLT rates when the relief is available

Where relief is available the rates of SDLT applicable are:

·       0% on the first £425,000 of the purchase price, and

·       5% on the amount above £425,000 up to £625,000.

For example, the tax due on the purchase of a dwelling by a first-time buyer for £600,000 would be £8,750. That is calculated as follows:

On the first £425,000 of the purchase price at a rate of 0% = £0

On the remaining £175,000 of the purchase price at a rate of 5% = £8,750

For property purchased from 22 November 2017 to 22 September 2022, where relief was available the rates of SDLT applicable were:

·       0% on the first £300,000 of the purchase price, and

·       5% on the amount above £300,000 up to £500,000.