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How to avoid stamp duty

When you buy a home, you might have to pay a hefty whack in stamp duty to the taxman.

But there are ways to legally reduce your stamp duty bill or avoid it completely.

In this article, we explain:

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What is stamp duty?

Stamp duty is a tax that you might have to pay when you buy a property. There are thresholds so if you buy a property that is below a threshold then you won’t have to pay stamp duty.

On 23 September 2022 the stamp duty thresholds increased, meaning buyers will pay less tax than previously. Some buyers will avoid stamp duty entirely.

We outline the thresholds in England, Wales, Scotland and Northern Ireland in our guide on stamp duty.

Prefer to watch rather than read? Here’s our stamp duty video:

Six ways to legitimately avoid stamp duty

Since the pandemic there have been a number of changes to stamp duty. We outline the changes in our guide on stamp duty.

While most of the best breaks have gone now, there…

How do I claim back stamp duty?

Second homes usually come with an additional rate of stamp duty to pay. However, if you sell your first property shortly after buying your second, then you may be able to claim a refund on that tax you paid.

Stamp duty is the money we pay to HMRC when when buying land or property in the UK above a certain value. How much you pay is affected by the value of your home and whether you are a first time buyer.

In this article we will explain:

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Second home owners that sell one of their properties could be in line for a stamp duty refund

Stamp duty surcharge

In April 2016 the rates of stamp duty were increased for second homes and buy-to-lets (excluding caravans, mobile homes or houseboats).

It meant buyers would have to pay a 3% surcharge on top of existing SDLT rates.

So for example, if you purchased a home for £400,000, you would pay:

• On the first £125,000 = £3,750 (no stamp duty but 3% surcharge)
• Between £125,000 to £250,000 = £6,250 (2% stamp duty and 3% surcharge)
• £250,000 to £400,000 = £12,000 (5% stamp duty and 3%…

Royal Mail stamp swap-out explained as barcodes set to be brought in

Royal Mail has sent out a reminder to customers telling them that they have just six more months to use up their old non-barcoded stamps. The initial deadline for the stamps to be used was January 31, however Royal Mail has introduced a six month grace period to give customers more time to use up their old, non-barcoded definitive stamps.

From July 31, non-barcoded stamps will no longer be valid and will even be liable to a surcharge if used on mail, so customers are being urged to either use their stamps or swap them for barcoded stamps through Royal Mail's free 'Swap Out' scheme. Stamps eligible for the scheme include the regular 1st and 2nd Class 'everyday' definitive stamps and all other values featuring the profile of the late Queen Elizabeth II.

Non-barcoded Christmas and other special stamps with pictures on will continue to be valid for postage and should not be submitted for the swap-out, guidance from Royal Mail states. The move comes as part of the postal service's ongoing 'modernisation drive' and the new barcoded stamps will pave the way for new updates - here's everything you need to know:

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