Reports suggest Chancellor Rachel Reeves is exploring a major shake-up of Stamp Duty Land Tax (SDLT) — potentially removing the current transactional stamp duty for many buyers and replacing it with a proportional levy targeted at higher-value homes (widely discussed around a ~£500,000 threshold).
If this goes ahead it would be a big change to how property tax is paid. Removing or reducing SDLT could lower upfront costs and make moving easier for many buyers, while a new ownership or seller-focused charge would shift some tax onto higher-value properties and change long-term running costs.
Buyers: Lower or no SDLT at exchange would improve affordability and cashflow for many purchasers, especially first-time buyers. But factor any new recurring or sale-time levy into your future costs.
Sellers: Those selling high-value homes may face extra tax at sale or altered buyer demand — pricing and timing strategies will matter more.
Investors: Changes to SDLT or new levies will affect yields and portfolio planning; run scenarios and get tax advice now.
In short: the proposals are still being modelled and would need legislation — there’s time to plan but uncertainty may affect market confidence. Get up-to-date valuations, speak to your mortgage broker and solicitor about timing, and ask your agent for local market guidance.
Want to know how possible SDLT reform could affect your move or portfolio? Contact our team for a quick market appraisal and tailored advice.