The SDLT temporary holiday cutting the rate of SDLT to 0% for all properties up to £500,000 will end on 31st March 2021.
1. If you are purchasing a property that is £400,000 as a main residence, now you pay £0. Before the stamp duty holiday you would have paid £10,000.
2. On a property with a value of £650,000 you will currently pay :
- 0% on the first £500,000,
- 5% on £150,000
- Total to pay = £7,500.