The Conservatives' plan to abolish stamp duty: what would you save?
Scrapping stamp duty land tax entirely on primary residences, whatever they're worth — a one-off saving for anyone buying a home to live in.
What's being proposed
Conservative leader Kemi Badenoch has pledged that a future Conservative government would abolish stamp duty land tax entirely on primary residences — regardless of the property's value. It was the headline tax announcement of her leadership's economic prospectus, framed as a way to help more people onto and up the housing ladder. Stamp duty on second homes and additional properties would not be covered by the pledge.
Where it comes from
The Conservatives have built their pitch around fiscal discipline — a "golden economic rule" that splits any savings between cutting the deficit and cutting taxes — funded by reductions in welfare and the civil service. Within that frame, scrapping stamp duty is presented as a pro-aspiration, pro-mobility tax cut. Stamp duty is widely disliked by economists for taxing people simply for moving home, so abolition has support across the political spectrum; the disagreement is mostly about whether it's affordable and what, if anything, should replace the revenue.
How it would work
- Stamp duty would fall to £0 on a main home of any value when you buy.
- First-time buyers would also pay nothing (they already get relief up to certain thresholds; this removes the charge entirely).
- Second homes and additional properties would still pay stamp duty, including the existing surcharge.
- Unlike the rival Proportional Property Tax idea, there is no new annual charge to replace it — it's a straight abolition.
The case for and against
Supporters argue
- It removes a major upfront cost and friction on moving, helping first-time buyers, downsizers and movers.
- Freeing up the market can improve how efficiently homes are used.
- It's a simple, visible tax cut that doesn't create a new annual liability.
Critics argue
- Stamp duty raises billions; abolition has to be paid for, and critics question whether the promised spending cuts are deliverable.
- The biggest cash savings go to buyers of the most expensive homes.
- Cutting a transaction tax without reforming council tax leaves the wider property-tax system untouched.
What would you save?
Enter what you're paying for a home to see today's stamp duty (England 2026/27 rates) and what abolition would save you. The saving applies to main homes; second homes keep paying.
Your purchase
Stamp duty uses England's 2026/27 bands (also applicable in Northern Ireland): nil to £125,000, 2% to £250,000, 5% to £925,000, 10% to £1.5m, 12% above, with first-time-buyer relief and a 5% additional-property surcharge. The proposal removes the charge on primary residences only. Scotland and Wales set their own equivalents. Not financial advice.
Sources & further reading
- Conservative Party — leader's conference announcement on abolishing stamp duty.
- GOV.UK — current Stamp Duty Land Tax rates and rules.
- House of Lords Library — Economic and taxation policy — including the case for stamp duty reform.
Figures are illustrative and based on reported proposals; rates and rules may change. General information, not financial, legal or tax advice.
Frequently asked questions
How much stamp duty would I save?
Use the calculator above with your purchase price and buyer type to see your exact SDLT saving if stamp duty is abolished on main homes in England and Northern Ireland.
Has stamp duty been abolished?
No. Abolishing stamp duty on main homes is a Conservative proposal, not current policy; stamp duty land tax still applies in England and Northern Ireland.
When will stamp duty be abolished?
There's no date — this is an opposition pledge, so it would need the Conservatives to win a general election (due by August 2029) and then legislate it in a Budget. Until any government acts, the current 2026/27 bands apply.
Who would benefit from scrapping stamp duty?
Anyone buying a main home would no longer pay SDLT on that purchase, and the saving is larger for higher-value homes.
How much is stamp duty now?
On a main home in England and Northern Ireland (2026/27) there's no SDLT up to £125,000, then 2% to £250,000, 5% to £925,000, 10% to £1.5m and 12% above. The calculator shows your current bill.