Stamp duty reliefs and exemptions
In this guide
What reliefs and exemptions are available to offset stamp duty? This is one of the most common questions clients ask our accountants when investing in additional properties.
This page has been updated for the October 2024 budget
On 30th October, the Chancellor announced changes to Stamp Duty Land Tax. This page has been updated to reflect the current rates.
Stamp duty reliefs for complex purchases
3 year rule when replacing your main residence
If you’re replacing your main residence and have not sold your home on the day you complete your new purchase you’ll have to pay higher rates of SDLT (5%.) This is because you own 2 properties.
You can however, apply for a refund if you sell your previous main home within 36 months.
First time buyers
First time buyers do not pay any stamp duty on the first £425,000 of a property
First-time buyers' relief can be claimed to up £625,000
Inherited property
If property is left to you in a will, you do not have to pay SDLT.
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