You must pay Stamp Duty Land Tax (SDLT) if you buy a property or land over a certain price in England.
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
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 April 2021.
Find out more about stamp duty
The amount you need to pay varies depending on the price of the property you're buying, use the stamp duty calculator to identify how much you'll need to pay.