One year on: Stamp Duty thresholds back to pre-2022 levels
The temporary nil-rate band uplift introduced in 2022 ended a year ago, returning the first-time buyer threshold to £300,000.
By Money Guide editorial team
Published:
It is now a year since the temporary increase to the Stamp Duty Land Tax nil-rate band ended. The standard residential nil-rate band reverted to £125,000 (from £250,000), and the first-time buyer threshold returned to £300,000 (from £425,000), with relief withdrawn entirely on purchases above £500,000.
HMRC figures show transaction volumes spiked in the first quarter of 2025 as buyers rushed to complete before the change, then dipped sharply in April and May. By late 2025 the market had returned to a more typical run-rate.
For a typical first-time buyer purchasing a £350,000 home, the change added £2,500 to upfront costs. For a home mover at the same price, the SDLT bill is now £7,500.
Scotland (LBTT) and Wales (LTT) have their own land-transaction tax systems with different bands; neither replicated the temporary English uplift.