SDLTM29815 | SDLT rates when the relief is available

Where relief is available the rates of SDLT applicable are:

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

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

For example, the tax due on the purchase of a dwelling by a first-time buyer for £450,000 would be £7,500. That is calculated as follows:

On the first £300,000 of the purchase price at a rate of 0% = £0

On the remaining £150,000 of the purchase price at a rate of 5% = £7,500

For property purchased from 23 September 2022 to 31 March 2025, where relief was available the rates of SDLT applicable were:

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

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