Glossary
What is Stamp Duty Land Tax?
Stamp Duty Land Tax is a tax you pay when you buy a home or land above a certain price in England and Northern Ireland.
How it works
SDLT is charged in slices (2025/26): nothing up to £125,000, 2% to £250,000, 5% to £925,000, 10% to £1.5m and 12% above. First-time buyers pay nothing up to £300,000. Buyers of additional properties pay a 5% surcharge on top. Scotland and Wales have their own equivalents.
Why it matters now
Stamp duty is one of the most-debated taxes: the Conservatives would abolish it on main homes, Reform would cut it to 0% below £750,000, and the Proportional Property Tax would scrap it entirely and replace it with an annual charge.
Plain-English definition for general information only — not financial, legal or tax advice. Rates are 2025/26 unless stated.