Stamp duty holiday: How much do I have to pay now?
18th September 2021
It means that home buyers will have to pay stamp duty on all purchases above £125,000.
How does the Stamp Duty Holiday affect your house move?
In 1 July 2020, the government announced a year-long cut to help buyers whose finances were affected by Covid.
Until June 2021, home buyers didn't have to pay stamp duty on the first £500,000 of a purchase price.
This meant a saving of up to £15,000.
The government later extended the tax holiday from 1 July until 30 September this year. During this period - which is now coming to an end - home buyers don't have to pay stamp duty on the first £250,000:
£0-£250,000 = 0%
£250,001-£925,000 = 5%
£925,001-£1,500,000 = 10%
£1,500,000+ = 12%
From 1 October 2021, rates will return to pre-Covid levels. That means the point you to start paying stamp duty will be £125,001: