Stamp duty is a tax paid on property purchases.
In July 2020, the government announced a cut to help buyers whose finances were affected by Covid.
Until 31 March 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 until 30 June, and then again until 30 September.
During this period home buyers didn’t have to pay stamp duty on the first £250,000:
From 1 October 2021, rates return to pre-Covid levels. That means the point you start paying stamp duty will be £125,001:
£0-£125,000 = 0%
£125,001-£250,000 = 2%
£250,001-£925,000 = 5%
£925,001-£1,500,000 = 10%
£1,500,001+ = 12%
You can use our Stamp Duty Land Tax (SDLT) calculator to find out how much you will pay.