Glossary
SDLT: Stamp Duty Land Tax
The tax on buying property in England and Northern Ireland.
What it means
Stamp Duty Land Tax is paid when you buy property in England or Northern Ireland, charged in bands on the price. If you already own a home anywhere, or buy through a company, a 5% surcharge is added to every band for additional properties of £40,000 or more. It is due within 14 days of completion and is a real cost of the deal, not a rounding error.
Worked example
ExampleA £120,000 buy-to-let in England, bought by someone who already owns a home.
- Up to £125,000
- 0% + 5% surcharge = 5%
- SDLT
- £120,000 × 5% = £6,000
A first home at the same price would pay nothing. Investors pay £6,000.
Information, not advice. Example figures are fictional and for illustration only.