Stamp duty changes apply from today

April 1, 2016

The new rate of stamp duty on buy-to-let property and second homes comes into force today 1st April.

There are exemptions however to this change in property tax, buying a property for less than £40,000, caravan or houseboat will not be included. Home movers who buy their next property before selling the one they are living in will also be exempt but will have to reclaim the 3% tax back, as long as they sell within 3 years of the transaction.

The new rate of stamp duty will have a significant effect on the cost of buying an additional property, the extra cost for a property of £280,000 will be £8,400.

Land and Buidlings Transaction Tax (LBTT) replaced Stamp Duty Land Tax (SDLT) in Scotland in April last year, and while the price bands differ, the system works in much the same way, new rates apply as of today similar to England and Wales.

To be absolutely sure of changes of rates and how it will affect each individual purchase refer to the Government website or take professional advice.

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Breaking News

Estate Agent Content

Do you think that your estate agency / property business requires content? Is content marketing still a thing in 2025? Are you concerned if anyone will read your words? Is it worth investing in estate agent content? Businesses with blogs generate 67% more leads than those without. As competition for attention online increases it remains…
Read More →
Breaking News

The cost of voids rises by £200 for England’s landlords

The latest analysis by Dwelly, one of the UK’s leading lettings acquisition and success planning experts, has found that landlords have been hit with a 26% increase in the cost of void periods in the past year, equivalent to lost income of almost £200. Dwelly analysed average void period data from March 2024 and March…
Read More →
Breaking News

Breaking Property News 5/06/25

Daily bite-sized proptech and property news in partnership with Proptech-X. Demand Rises for Housing and Infrastructure Projects Rising demand for housing, infrastructure and energy projects across Wales has driven continued growth at Lichfields’ Cardiff office, which this year marks 25 years in the capital. The team of 17 planning professionals is one of the largest…
Read More →
Breaking News

Construction continues to enjoy a season in the sun

Underlying performance is on the rise during Q.2 2025 Today, Glenigan, one of the construction industry’s leading insight experts, releases the June 2025 edition of its Construction Index. The Index focuses on the three months to the end of May 2025, covering all underlying projects, with a total value of £100m or less (unless otherwise…
Read More →
Love or Hate Rightmove
Breaking News

Busiest May for sales agreed since 2021

The latest insights from Rightmove show that it was the busiest May for agreed property sales since 2021, and the busiest out of any month since March 2022 May is typically a busy month in the year for agreed sales, but this year’s figure highlights the improved market conditions, as home-movers carry on following the…
Read More →
Breaking News

New anti-money laundering rules now in effect: what landlords need to know

New anti-money laundering (AML) rules came into effect this month, marking a significant change for landlords and the lettings industry as a whole. The new rules mean financial sanctions checks are now required for all lettings, regardless of how much rent is charged. Here, Steve Bond, managing director of residential lettings for Beresfords, explains what…
Read More →