By Rob McGregor
April 21, 2025
Changes to Stamp Duty Land Tax in England
With the 1 April changes to Stamp Duty Land Tax (SDLT) fast approaching, now is the time to take a closer look at how this might impact your plans. Whether you’re a first-time buyer taking your first step onto the property ladder or moving up to your next home, understanding these changes is key to making informed decisions.
At Gilson Gray, we know that buying a home is one of the most significant investments you’ll make, and we’re here to guide you every step of the way. Paul Critchley, Legal Director, Residential Conveyancing in London shares what you need to know about the upcoming changes.
What’s Changing for First-Time Buyers?
If you’re a first-time buyer, the SDLT relief thresholds are about to shift:
- Currently, no stamp duty is payable on the first £425,000, with a 5% rate applying to the portion between £425,001 and £625,000.
- From 1 April, the zero-rate band drops to £300,000, with the 5% rate applying between £300,001 and £500,000.
This means first-time buyers purchasing a home over £300,000 will need to budget for additional costs.
Standard SDLT Rates: A Lower Threshold
For all other buyers, the starting point for SDLT will change:
- The current zero-rate band up to £250,000 will reduce to £125,000.
- Buyers purchasing homes valued over £125,000 will begin paying SDLT sooner, increasing the upfront cost of moving home.
What Does This Mean for You?
If you’re planning to complete your property purchase before 1 April, you could still benefit from the current higher thresholds, potentially saving thousands. However, if you’re completing after 1 April, it’s vital to adjust your budget accordingly to avoid any surprises.
Why Timing Matters
For buyers finalising their transactions before the deadline, this change presents a clear financial advantage. Acting now could mean avoiding increased SDLT costs. However, the property market can move quickly, and delays in processes such as conveyancing could impact your completion timeline.
How Gilson Gray Can Help
Navigating SDLT changes can feel daunting, but you don’t have to go through it alone. At Gilson Gray, we combine expertise with a personal touch to make your property journey as smooth as possible.
- Clarity: We’ll guide you through the implications of the SDLT changes in plain English, ensuring you understand exactly what it means for your transaction.
- Efficiency: Our experienced Residential Conveyancing team is here to help you meet your deadlines and avoid unnecessary delays.
- Support: Whether you’re a first-time buyer or a seasoned homeowner, we’ll tailor our advice to your needs, ensuring no question goes unanswered.
Take Action Today
With the deadline fast approaching, now is the time to act. Whether you’re buying your first home, upsizing, or investing, the Residential Conveyancing team at Gilson Gray is here to help you navigate these changes with confidence and ease.
Please note that this change applies only to Stamp Duty in England.
Get in touch with us today to discuss your property plans and ensure your transaction is completed seamlessly.
Contact us now and let’s make your property goals a reality.
| Paul Critchley Legal Director | ||||
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