Stamp Duty is tiered, meaning that you pay different rates on different portions of the property price. You will also pay different rates depending on whether you’re a first-time buyer, home mover or buying a buy-to-let, second or holiday home.

To fully understand the question ‘what is the stamp duty threshold’, the Government’s Stamp Duty Land Tax SDLT calculator can be used for property purchases that are:

• for first-time buyers
• replacing main residence
• additional property
• residential or non-residential
• freehold or leasehold
• for non-UK residents purchasing residential property

The calculator will work out the SDLT payable for most transactions. You should check the Government guidance if:

• you are uncertain about how SDLT applies to your purchase
• if you believe it may qualify for a relief
• for further general information and guidance

If in doubt, seek further advice from a tax expert or specialist SDLT agent. LPL cannot offer advice on complex SDLT matters.