After the stamp duty holiday, stamp duty rates will be as follows: If you are a first time buyer and the full market value (FMV) is £500,000 or less then you can claim first time buyers relief which is
-0% on the first £300,000
-5% on the remainder up to £500,000
This compares to the current SDLT rates (without reliefs) which are:
- Up to £125,000 = 0%
- The next £125,00 (up to £250,000) = 2%
- The next £675,000 (up to £925,000) = 5%
- The next £575,000 (up to £1.5 million) = 10%
-The remaining amount (the portion above £1.5 million) = 12%