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Important SDLT Update: Upcoming Stamp Duty Changes Effective 1st April 2025

We’d like to let you know about upcoming changes to Stamp Duty Land Tax (SDLT) rates, which are due to take effect on 1st April 2025.

These changes could impact the amount of SDLT payable on your transaction, whether you are a first-time buyer or have previously owned property. If your transaction does not complete on or before 31st March 2025, the SDLT you pay could increase under the new rates.

For your convenience, we’ve included a link to the Government’s website, which outlines the SDLT rates applicable both before and after the 31st March deadline. The site also features a helpful calculator to estimate any potential differences:

Government SDLT Information and Calculator

The SDLT quote we provided at the outset of your matter was based on the current rates, valid until 31st March 2025. However, if completion takes place after this date, the updated rates will apply.

Points to Consider:

  • We anticipate a higher volume of transactions leading up to the 31st March 2025 deadline, which could result in delays across the property market.
  • While we will work hard to progress your transaction promptly, we cannot guarantee completion before the deadline, especially in cases involving property chains or external factors outside our control.
  • It’s important to consider and plan for the possibility of higher SDLT if your transaction completes after 31st March.

Although we will do our best to assist with your transaction, Band Hatton Button will not accept liability for any additional SDLT that may become payable after 31st March 2025 due to delays.

If you are selling a property, the SDLT changes may not directly affect your financial position. However, please be aware that other parties in the chain may wish to complete before the deadline, which could introduce additional timing considerations.

We’re here to provide as much support as possible. If you have any questions or would like to discuss your situation further, please don’t hesitate to reach out to the lawyer who is dealing with your transaction.