23 Jan Stamp Duty Changes 2025: What You Need to Know

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Stamp Duty Changes 2025: What You Need to Know

From 1st April, 2025, stamp duty rates will change for property transactions across England and Northern Ireland, introducing new thresholds that estate agents, buyers, and sellers must be prepared for. Understanding these changes is critical for managing client expectations and securing your pipeline.

Key updates include:

  • Higher rates for properties over £125,000: The new 2% stamp duty rate applies to properties priced between £125,000 and £250,000.
  • Additional property surcharges: Buyers of second homes or investment properties will face higher rates, with surcharges now rising up to 17% for properties over £1.5 million.
  • First-time buyer relief: No stamp duty will apply to purchases below £300,000, with a reduced 5% rate on transactions up to £500,000.

Stamp duty is a progressive tax, meaning you’ll only pay the relevant percentage on each portion of the property price. For example, on a £295,000 home, you’ll pay:

£0 on the first £125,000

2% (£2,500) on the next £125,000

5% (£2,250) on the remaining £45,000

Total SDLT = £4,750

Download our fast fact sheet to give out to your clients here: https://drive.google.com/file/d/17eLymHtOzQ4dkl1z8Aem6BwL8NG6uVUn/view?usp=sharing

The countdown to April 2025 is on, so understanding these rules now is crucial for your pipeline and to ensure your buyers and sellers are fully aware of the impact on their transactions to avoid unnecessary fall-throughs.

NB This does not apply to properties in Wales.  Instead, they are subject to a Land Transaction Tax, set by the Welsh Government.  For more information visit https://www.gov.wales/higher-rates-land-transaction-tax-introduction

A bit about Complete ASAP

We are Sales Progression experts, dedicated to getting house sales and purchases completed faster and without stress.  When Agents outsource to us, they can expect a world class service, faster transactions and significantly fewer fall-throughs.  What’s more, when you use our full service, Complete ASAP, your sales progression is free. 

To find out more contact our Business Development Manager Sarah Reid at sreid@completeasap.co.uk

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