2025 Stamp Duty Changes
- Tollington Surveyors
- Feb 27
- 2 min read
2025 Stamp Duty Changes
In light of the forthcoming Stamp Duty Land Tax (SDLT) changes effective from 1st April 2025, it's imperative for prospective property buyers to understand the financial implications, especially in areas like Finsbury Park, Crouch End, Highgate, and Tottenham.
As a local surveying firm with extensive experience in these neighbourhoods, Tollington Surveyors is well-equipped to guide you through these changes and their impact on your property decisions.
Key Changes Effective from 1st April 2025
Reduction of the Nil-Rate Threshold: The threshold at which SDLT begins will decrease from £250,000 to £125,000. This means buyers will pay tax on property values exceeding £125,000.
Adjustments for First-Time Buyers: The tax-free threshold for first-time buyers will reduce from £425,000 to £300,000. For properties priced between £300,001 and £500,000, a 5% SDLT rate will apply on the amount exceeding £300,000. Purchases above £500,000 will not qualify for first-time buyer relief.
Impact on Average Two-Bedroom Properties
To illustrate the financial implications of these changes, consider the average prices for two-bedroom properties in the specified areas: (These figures are rounded up and are based on current property listings and market data as of February 2025)
Example Calculation for Finsbury Park
Before April 2025:
0% on the first £250,000: £0
5% on the remaining £340,000: £17,000
Total SDLT: £17,000
After April 2025:
0% on the first £125,000: £0
2% on the next £125,000: £2,500
5% on the remaining £340,000: £17,000
Total SDLT: £19,500
Conclusion
In light of the upcoming Stamp Duty Land Tax (SDLT) changes effective from 1st April 2025, it's crucial for property buyers, especially first-time purchasers and those investing in higher-priced areas, to understand the financial implications. To mitigate increased costs, completing transactions before this date is advisable.
At Tollington Surveyors, we specialize in providing RICS Level 2 HomeBuyer Surveys and RICS Level 3 Building Surveys exclusively in North London. We never overcommit to inspections, ensuring each client receives our full attention.
Understanding the importance of timely information in property transactions, we guarantee a comprehensive report within five working days following the inspection. Our commitment to punctuality ensures you have the necessary insights to make informed decisions without unnecessary delays.
Please feel free to contact us for expert advice and assistance in making an informed decision about your property investment.
Tollington Surveyors is a small, locally-focused surveying company based in Stroud Green, and dedicated to serving the Haringey area. Learn more >
