Stamp Duty Land Tax
The question
To ask the Chancellor of the Exchequer, if she will bring forward legislative proposals to amend Stamp Duty so that rates of duty depend on the energy performance of the property.
Answered by James Murray
Stamp Duty Land Tax (SDLT) is a transaction tax paid on the purchase of a property or land in England and Northern Ireland. The level at which purchasers of residential property start paying Stamp Duty Land Tax (SDLT) is currently £250,000 and this is due to revert to £125,000 on 1 April 2025. For first-time buyers, the nil-rate band is currently £425,000 and the purchase price limit for accessing the relief is currently £625,000. On 1 April 2025, these rates will revert to £300,000 and £500,000 respectively. Introducing incentives based on the energy performance of properties would add significant complexity to the operation of the current system. The Government therefore has no plans to introduce incentives based on the energy performance of properties.
The Government keeps all taxes under review as part of the usual tax policy making process and welcomes representations to help inform future decisions on tax policy. Any changes are generally announced at fiscal events, where decisions are taken in the round.
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