Document
Stamp Duty Land Tax — temporary increase to thresholds
This tax information and impact note explains the temporary increases to the nil-rate bands for Stamp Duty Land Tax on residential property and to the amount that a First Time Buyer may pay while qualifying for relief.
Details
This document gives information about the changes and the impacts in the reduction of Stamp Duty Land Tax by temporarily increasing the:
- residential nil-rate threshold from £125,000 to £250,000
- nil-rate threshold for First Time Buyers’ Relief from £300,000 to £425,000
- maximum amount that an individual can pay for a home while remaining eligible for First Time Buyers’ Relief, from £500,000 to £625,000
The change will apply from 23 September 2022 to 31 March 2025.
Source: UK Government