Stamp duty changes on the horizon: what buyers need to check before making an offer

Reports of possible changes to property taxes ahead of the Autumn Budget on Wednesday 26 November 2025 have put stamp duty back in the headlines. For homebuyers, this matters because stamp duty is often the largest cost after the price of the property itself, and even small changes to rules or reliefs can alter what you owe.

Current Stamp Duty Rates

In England:

• No Stamp Duty on the first £125,000 of the price
• 2% on the part from £125,001 to £250,000
• 5 % on the part from £250,001 to £925,000
• 10 % on the part from £925,001 to £1.5 million
• 12 % on anything above £1.5 million

First time buyers pay nothing on the first £300,000 and 5 % on the part from £300,001 to £500,000. Above £500,000 first time buyer relief does not apply. If you will own more than one property at completion, you usually pay an extra 5 % on top of each rate unless you are replacing your main home within the allowed time. After completion, your solicitor files the stamp duty form and pays HMRC within 14 days.

In Wales you pay Land Transaction Tax:

• For a main home you pay nothing on the first £225,000
• 6 % on the part from £225,001 to £400,000
• 7.5 % from £400,001 to £750,000
• 10 % from £750,001 to £1.5 million
• 12 % above £1.5 million.

Higher rates apply if you own more than one property. After completion, your solicitor files the Land Transaction Tax return and pays Revenue Wales within 30 days.

What the headlines mean for you
 • Rules can change between offer and completion, so the amount due can shift if reliefs or rates are updated.
 • Different systems apply across England and Wales.
 • Your status matters. First time buyer relief, higher rates for additional properties, and the test for replacing a main residence can change the final figure.
 • Property details count. An annexe, mixed use elements, multiple dwellings, or linked purchases can lead to a different calculation.
 • Deadlines are tight. Returns and payments are due shortly after completion and late filing brings penalties and interest.

Sophia Ramzan, Partner and Head of Conveyancing, Watkins Solicitors:

“Buying a home should feel exciting, not uncertain. With early advice, we turn what can seem like a tangle of stamp duty rules into a clear checklist, protect your budget, and keep your move on track.

Our team will confirm the right tax for where you are buying, check whether first time buyer relief or the higher rates for additional properties apply, and explain any quirks such as an annexe, mixed use space or two connected purchases.

Our aim is simple: clear answers, no jargon, and the confidence to make your offer knowing the numbers are right.”

Why advice before you offer matters
You need a firm figure before you make an offer. We calculate your likely stamp duty at the start, using the rules that apply to your purchase. We then build this into your conveyancing plan so contracts, timelines and funds are aligned. If the law changes during your transaction, we will explain what that means for you and update the plan.

The Chancellor has not currently announced any final stamp duty changes ahead of 26 November. Reports say the Treasury is modelling options, including replacing stamp duty with a national property tax on higher-value homes and applying National Insurance to rental income from landlords, but nothing is confirmed. We will track any official announcements and reflect them in your quote and contracts.

For more information, please contact our conveyancing team on conveyancingint@watkinssolicitors.co.uk