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  • When Do I Have to Pay Stamp Duty?

    15th November 2017

    When Do I Have to Pay Stamp Duty?

    Stamp duty: is a tax owed to the government when you by a property.

    Due date: stamp duty must be paid within 30 days of completing on the purchase of your house. Failing to submit a return and paying the tax could lead to penalties and interest charges from HMRC. Your conveyancer / solicitor should ensure that this gets completed and make sure you don’t miss the deadline.

    Who pays? The buyer pays, not the seller.


    What is the charge?

    The charge is a percentage fee of the property value and increases with the price of the property. There is also a higher rate to pay if you already own a property and are buying an additional one(s).

    uk stamp duty rates


    Does it apply to all properties?

    • Charities may be able to get relief on properties used for charitable purposes
    • Zero carbon homes – to incentivise environmentally friendly purchases, zero-carbon homes under £500,000 are exempt and those over £500,000 have the bill reduced to £15,000.
    • Right to buy transactions may also qualify for discounts.
    • The Nov 2017 Budget means first time buyers do not pay any stamp duty on properties below £300k and do not pay stamp duty on the first £300k on properties up to £500k. There is no relief on properties above £500k.

    For a full list of exemptions, visit HMRC – https://www.gov.uk/stamp-duty-land-tax/reliefs-and-exemptions