Our Property Solicitor Rachel Cooke answers your most frequently asked SDLT questions below.

    Rachel CookeRachel Cooke
    Solicitor – Property
  • I am a first time buyer (I have never owned property in the UK or elsewhere in the world) and neither has the person I am buying with

You will not have any stamp duty to pay provided the purchase price is £300,000 or less.  You may also have an ISA as a first time buyer that can be used towards the completion funds.

  • I am a first time buyer (I have never owned property in the UK or elsewhere in the world) but the person I am  buying with has owned properties before and sold them

Then you will have to pay normal rate stamp duty land tax as you have both owned properties before.

  • I am a first time buyer (I have never owned property in the UK or elsewhere in the world) but my wife has a different property in her name

Regardless of whether the wife is buying this property, you are treated as one entity and as such the higher rates of interest will apply unless this additional property is sold before or on the same day as completion of the purchase

  • I am a first time buyer (I have never owned property in the UK or elsewhere in the world) but the person I am buying with has owned properties before and still has a property that will not be sold before this purchase completes

Stamp duty land tax will therefore be paid at the higher rate.  If the above property is sold within 3 years of the purchase, the stamp duty land tax can be reclaimed.  HM Revenue and Customs must have your request within 3 months of the sale of your previous main residence or within 12 months of the filing date of the return, whichever’s later.  HSR Law can carry out this refund claim for you.

  • I am buying a main residence and selling my previous main residence on the same day

You are replacing a main residence so you will pay stamp duty land tax at the normal rates, NOT the higher rate

  • How much tax am I paying?

The easiest way is to use the online calculator – https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro