Question 1

What is UK Stamp Duty?

Accepted Answer

SDLT is a tax paid when buying property in England and Northern Ireland. Rates are tiered: 0% up to £250K, 5% on £250K-£925K, 10% on £925K-£1.5M, 12% above £1.5M.

Question 2

Do first-time buyers pay stamp duty?

Accepted Answer

First-time buyers get relief: no stamp duty on properties up to £425K, and 5% on £425K-£625K. Properties over £625K pay standard rates.

Question 3

When do I pay stamp duty?

Accepted Answer

Stamp duty must be paid within 14 days of completion. Your solicitor typically handles this.