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Get more information and updates from Bellway Homes regarding this development via:
Receive updates about other nearby developments from Bellway Homes and sister brand Ashberry Homes, as well as related products and news.
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It’s nothing to do with sending a letter, but it does concern your new address. Stamp Duty – or Stamp Duty Land Tax (SDLT), to call it by its Sunday name – is a fixed sum of money paid to the government when you buy a property or piece of land in England or Northern Ireland.
If you’re in Wales or Scotland, a similar tax applies; in Wales, it's called the Land Transaction Tax (LTT), while in Scotland, you'll pay the Land and Buildings Transaction Tax (LBTT). To keep things simple we’ll refer to Stamp Duty throughout this page, but make sure you check the specific rules for the applicable tax where you’re buying your new home.
Before we dive in, here are some fast facts about Stamp Duty:
If any of the below circumstances apply to you, you’ll pay Stamp Duty when buying a home:
There’s no difference on the Stamp Duty rates for new or existing homes. However, the Stamp Duty calculation for a new-build home will also need to include any optional extras you’ve paid for – such as an upgraded kitchen, or premium bathroom tiles.
So if you’re an existing homeowner, buying a new Bellway home that costs £240,000 but you choose to spend £12,000 on Additions, you’ll exceed the £250,000 Stamp Duty threshold. This means you’ll pay 2% Stamp Duty on the portion over £125,000 and up to £250,000, and 5% on the £2,000 that exceeds £250,000. This means the total Stamp Duty you’ll have to pay will be £2,600.
If there’s Stamp Duty to pay on your new home, you’ll have to file a Stamp Duty Land Tax return and pay the fee in full within 14 days of completion (30 days in Scotland and Wales). Your solicitor will usually sort this out for you. It’s really important that you don’t miss this deadline, or you might be charged interest or penalties – money we know you’d much rather spend on jazzing up your new home instead.
You’ll still have to file a return if there’s no Stamp Duty to pay, unless you’ve purchased a property for less than £40,000. In which case, lucky you!
Stamp Duty can be thousands, if not tens of thousands of pounds, which you’ll have to factor into your moving home budget. You can’t put it on a credit card or pay it in instalments. People usually set money aside for the Stamp Duty cost, but it can be possible to borrow more on your mortgage to cover it – we'd recommend that you speak to an independent mortgage advisor or financial advisor before you do this, though, as there are lots of things to consider.
It’s good news if you’re a first-time buyer, because you won’t have to pay any Stamp Duty on a property costing up to £300,000 in England and Northern Ireland, or up to £175,000 in Scotland. There’s no relief specifically for first-time buyers in Wales, but you’ll only pay Stamp Duty if you’re buying a home that’s over £225,000 anyway.
If you’re buying a home that’s priced above the first-time buyer relief threshold in your country, the amount you’ll have to pay depends on which country that is. In England and Northern Ireland you won’t qualify for any first-time buyer relief if the home you’re buying is over £500,000, so look for a property below this price if you want to benefit.
If you’re buying your home with another person, both of you will have to be first-time buyers to be eligible for the Stamp Duty relief.
First-time buyer buying a property under £300,000
Property value at point of purchase: £300,000
0% stamp duty to pay
First-time buyer buying a new property over £425,000
Property value at point of purchase: £500,000
5% stamp duty to pay from £300,000 to £500,000 = £10,000
Total stamp duty payable = £10,000
If you’ve owned a property before, you’ll pay Stamp Duty in England and Northern Ireland when you buy a home for over £125,000. In Scotland, the threshold is £145,000; in Wales, it’s £225,000.
You'll have to pay the Stamp Duty even if you’re buying with someone who is a first-time buyer.
Current homeowner buying a property under £250,000
Property value at point of purchase: £250,000
0% stamp duty to pay up to £125,000 of the value
2% stamp duty to pay up to £250,000 = £2,500
Total stamp duty to pay = £2,500
Current homeowner buying a property over £250,000
Property value at point of purchase: £295,000
0% stamp duty to pay up to £125,000 of the value
2% stamp duty to pay from £125,001 to £250,000 = £2,500
5% stamp duty to pay from £250,001 to £295,000 = £2,250
Total stamp duty to pay = £4,750
| Minimum purchase price | Maximum purchase price | Stamp Duty rate |
|---|---|---|
| £0 | £125,000 | 0% |
| £125,001 | £250,000 | 2% |
| £250,001 | £925,000 | 5% |
| £925,001 | £1.5 million | 10% |
| Minimum purchase price | Maximum purchase price | Stamp Duty rate |
|---|---|---|
| £0 | £180,000 | 0% |
| £180,001 | £250,000 | 3.5% |
| £250,001 | £400,000 | 5% |
| £400,001 | £750,000 | 7.5% |
| £750,001 | £1.5m | 10% |
| Over £1.5m | 12% |
| Minimum purchase price | Maximum purchase price | Stamp Duty rate |
|---|---|---|
| £0 | £145,000 | 0% |
| £145,001 | £250,000 | 2% |
| £250,001 | £325,000 | 5% |
| £325,001 | £750,000 | 10% |
| £750,001 + | 12% |
If you’re buying a second home in addition to one you already own, you’ll pay a different rate of Stamp Duty. There won’t be any tax to pay on the first £40,000 of its price, but after that you'll pay a higher Stamp Duty rate, depending on where you’re buying.
In England and Northern Ireland, that’ll be an extra 5% on top of the standard Stamp Duty rates. We’ve popped a table below that shows the rates you’ll pay on your additional home.
| Minimum purchase price | Maximum purchase price | Standard stamp duty rate | With additional property stamp duty rate |
|---|---|---|---|
| £0 | £125,000 | 0% | 5% |
| £125,001 | £250,000 | 2% | 7% |
| £250,001 | £925,000 | 5% | 10% |
| £925,001 | £1.5 million | 10% | 15% |
Use the Welsh Government’s higher rate Land Transaction Tax calculator to work out how much you’ll need to pay when buying a second residential home in Wales. In Scotland, second homes are subject to the Additional Dwelling Supplement (ADS) – use the Land and Buildings Transaction Tax calculator by Revenue Scotland to calculate what you’ll owe.
Get simple answers to the most-asked questions about Stamp Duty, Land Transaction Tax, and Land and Buildings Transaction Tax
In England and Northern Ireland, you’ll only pay Stamp Duty as a first-time buyer if you’re buying a home for over £300,000.
If you’re buying with another person who has owned a home before, unfortunately the first-time buyer relief won’t apply. You also won’t be eligible for any relief if you’re buying a home priced over £500,000 even if both of you are first-time buyers.
Stamp Duty applies to both leasehold and freehold properties, although if the home you’re buying is leasehold, there might be an extra charge. Have a chat with your solicitor about this and they’ll look into it for you, and let you know what you need to pay.
Standard rate Stamp Duty applies if you’re buying a home that will be your main residence, and you won’t own another property at the same time.
If you’re a first-time buyer, the lowest Stamp Duty threshold will apply to homes priced at £300,001 and above. After this you’ll fall into the 5% Stamp Duty band which applies up to £500,000.
For second-time buyers and home movers, you’ll pay Stamp Duty when buying a home for £125,001 and up. That’ll take you into the 2% Stamp Duty band, which is up to £250,000.
There’s a handy Stamp Duty Land Tax calculator on the UK Government website that will work out how much you’ll pay on the home you’re planning to buy.
Your solicitor can also calculate it for you. Once you’ve completed on your new home, they’ll file your Stamp Duty return and send the payment.
The higher rate of Stamp Duty only applies if you’ll own more than one property at a time. So if you already own a home, then buy another without selling the first one, you’ll have to pay the higher rate as it’ll be classed as a second residential property.
However, you could get a partial refund on the Stamp Duty you paid on the second home if you sell your first property within the following three years. Here’s a guide to Stamp Duty refunds on the UK Government website, and a link to apply for a refund if you think you’ll be eligible.
If you’re a first-time buyer in Scotland, you’ll only have to pay LBTT if the home you’re buying is over £175,000.
If it is, you won’t pay anything on the first £175,000 of its value, and then you’ll pay the applicable rate of LBTT on anything above that - starting with 2% on the portion from £175,001 and up to £250,000.
You’ll pay an Additional Dwelling Supplement (ADS) if you’re buying a second home in Scotland, even if you’re planning to rent it out. This is 8% of the full purchase price, on top of the standard LBTT rate.
Revenue Scotland’s guide to the Additional Dwelling Supplement tells you everything you’ll need to know and has a link to a calculator that works out how much ADS you’ll have to pay.
If you’re buying a home that costs more than £40,000, you’ll always have to submit a tax return to Revenue Scotland within 30 days of completion, even when there's no LBTT to pay. Your solicitor will usually take care of filing the return for you, so you don’t need to worry about missing the deadline.
There isn’t any LTT relief specifically for first-time buyers in Wales. However, the main rate of LTT in Wales only applies on properties above £225,000, so if you’re buying a home under that price then you won’t have to pay anything anyway.
As long as you’re eligible for the main rate of LTT in Wales, there’s nothing to pay on homes up to the value of £225,000. Above that, it depends on the total cost.
The lowest LTT band is 6% on the value from £225,001 to £400,000. The Welsh Government has an easy-to-follow guide to Land Transaction Tax which breaks down the bands. There’s even a useful LTT calculator to work out what you’ll owe.
You’ll have to pay a higher rate of LTT if you’re buying a home in Wales that’s priced over £40,000, and you already own another residential property. The higher rate starts at 5% for homes up to £180,000.
There are a few rules around LTT for second homes in Wales so it’s best to have a look at the Welsh Government’s guide to the higher rates of LTT, to make sure you’re clear.
If you’ve bought a home in Wales for over £40,000, you’ll have to submit a LTT tax return to the Welsh Revenue Authority within 30 days of completion even if there’s nothing to pay. But don’t worry – your solicitor will usually sort this for you to make sure you don’t miss the deadline.
*All information contained on this page and our websites is correct at time of broadcast (31.03.26) and is subject to change without notice. Subject to contract progression, house completion date and buyer status. Speak to your sales advisor for further information. This information does not constitute financial advice or recommendation and should not be considered as such.
