Stamp duty on a £500,000 property for first-time buyers, compared
At £500,000, England & Northern Ireland is cheapest at £10,000 and Scotland is priciest at £22,750.
England & Northern Ireland
SDLT on a £500,000 residential property in England & Northern Ireland for a first-time buyer is £10,000.
| Band | Taxable amount | Rate | Charge |
|---|---|---|---|
| Up to £300,000 | £300,000 | 0% | £0 |
| Above £300,000 | £200,000 | 5% | £10,000 |
- First-time buyer relief: saved £5,000
- You must file and pay within 14 days of completion.
Scotland
LBTT on a £500,000 residential property in Scotland for a first-time buyer is £22,750.
| Band | Taxable amount | Rate | Charge |
|---|---|---|---|
| Up to £175,000 | £175,000 | 0% | £0 |
| £175,001 – £250,000 | £75,000 | 2% | £1,500 |
| £250,001 – £325,000 | £75,000 | 5% | £3,750 |
| £325,001 – £750,000 | £175,000 | 10% | £17,500 |
- First-time buyer relief: saved £600
- You must file and pay within 30 days of completion.
Wales
LTT on a £500,000 residential property in Wales for a first-time buyer is £18,000.
| Band | Taxable amount | Rate | Charge |
|---|---|---|---|
| Up to £225,000 | £225,000 | 0% | £0 |
| £225,001 – £400,000 | £175,000 | 6% | £10,500 |
| £400,001 – £750,000 | £100,000 | 7.5% | £7,500 |
- Wales has no first-time-buyer relief; the Welsh Government's stated position is that the high nil-rate band serves the same purpose.
- You must file and pay within 30 days of completion.
Scotland costs £12,750 more than England & Northern Ireland here. Scotland has a 10% marginal rate above £325,000, while England & Northern Ireland has a 5% marginal rate above £300,000.
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