Stamp Duty, LBTT & LTT — 2024/25 Rates Explained
Whether you’re buying in England, Wales, or Scotland, property purchases above certain thresholds attract tax — known as Stamp Duty Land Tax (SDLT), Land and Buildings Transaction Tax (LBTT), or Land Transaction Tax (LTT).
1. Stamp Duty Land Tax (SDLT) — England & Northern Ireland
Stamp Duty Land Tax (SDLT) applies to property purchases in England and Northern Ireland. You pay it on the portion of your property price that falls within each tax band. The rates below apply for the 2024/25 tax year.
| Property Price Band | SDLT Rate |
|---|---|
| Up to £250,000 | 0% |
| £250,001 – £925,000 | 5% |
| £925,001 – £1.5 million | 10% |
| Over £1.5 million | 12% |
First-Time Buyer Relief
If you’re a first-time buyer purchasing a home worth up to £625,000, you pay:
- 0% on the first £425,000
- 5% on the portion between £425,001 and £625,000
Above £625,000, normal SDLT rates apply.
Additional Property Surcharge
Buying a second home or buy-to-let adds a 3% surcharge on top of each band’s normal rate.
Non-UK Residents
Non-UK residents pay an additional 2% surcharge on top of the standard or additional property rates.
2. Land and Buildings Transaction Tax (LBTT) — Scotland
Scotland has its own system, called LBTT, administered by Revenue Scotland. Current residential rates for 2024/25 are:
| Property Price Band | LBTT Rate |
|---|---|
| Up to £145,000 | 0% |
| £145,001 – £250,000 | 2% |
| £250,001 – £325,000 | 5% |
| £325,001 – £750,000 | 10% |
| Over £750,000 | 12% |
First-Time Buyer Relief
First-time buyers in Scotland benefit from a higher 0% threshold — £175,000 instead of £145,000.
Additional Dwelling Supplement (ADS)
There’s a 6% supplement on additional residential properties such as second homes and buy-to-lets.
3. Land Transaction Tax (LTT) — Wales
Wales uses Land Transaction Tax (LTT), administered by the Welsh Revenue Authority. Rates differ slightly from England and Scotland:
| Property Price Band | LTT Rate |
|---|---|
| Up to £225,000 | 0% |
| £225,001 – £400,000 | 6% |
| £400,001 – £750,000 | 7.5% |
| £750,001 – £1.5 million | 10% |
| Over £1.5 million | 12% |
Higher Rates for Additional Properties
As with other nations, Wales applies a 4% surcharge for additional dwellings.
4. Key Takeaways
- Rates and thresholds vary between England, Scotland, and Wales.
- First-time buyers benefit from relief up to certain limits.
- Second homes and overseas buyers pay surcharges.
- Stamp duty is calculated on bands — not on the whole property price.
- Use CalcFlow’s Stamp Duty Calculator for instant, accurate results.