In the weeks leading up to the Autumn Budget, there was plenty of chatter about stamp duty. Rumours suggested the Chancellor might scrap the current system and replace it with a new annual property tax on homes worth more than £500,000.
For anyone buying or selling, that would have been a major shake‑up.
When the Budget finally landed, though, those changes didn’t happen. Stamp Duty Land Tax (SDLT) remains exactly as it was, with the same thresholds and rates still applying.
The much‑talked‑about property tax for homes over £500k simply wasn’t introduced.
What we did get was confirmation that SDLT will stay in place for now, while the Treasury takes a wider look at property taxation. The only new measure announced was a future levy on homes worth over £2 million — a “mansion tax” style charge that won’t come into effect until April 2028.
So what does this mean in practice?
• If you’re buying now, SDLT rules haven’t changed.
• If your property is under £2m, there’s no new tax to worry about.
• The government is clearly thinking about reform, but nothing has been decided yet.
For now, the message is simple: SDLT is still here, and the much‑discussed £500k property tax hasn’t arrived. We’ll keep watching developments closely and share updates if and when the government makes further announcements.
If you have now decided to move forward with your sale, purchase, or remortgage, then our friendly team of expert 5-star rated conveyancers are waiting for your call. Please get in touch with Holly or Carla on 01724 840 400 or generate an instant free quotation online.
