England and Northern Ireland

If you are planning to purchase residential property, the good news is that there were no changes to stamp duty land tax (SDLT) announced in the Autumn Budget. The main threshold above which you start to pay SDLT remains at £125,000 and you will still pay the higher rate of SDLT on additional dwellings you buy such as second homes.

If you are a first-time buyer, you are still eligible for additional relief from SDLT on your property purchase. No SDLT is payable up to £300,000 for first-time buyers, with 5% SDLT payable on properties between £300,000 and £500,000.

Scotland and Wales

Property purchasers in Scotland and Wales do not pay SDLT. Rather, if you buy a property in Scotland, you pay land and buildings transaction tax, and in Wales, you pay land transaction tax. These Scottish and Welsh rates remain unchanged.