Act fast to avoid Stamp Duty Land Tax increase, says Lancashire conveyancing expert

Jennifer Prysiaznyj.jpg.jpg

A leading Lancashire residential conveyancing solicitor has urged house buyers to act quickly following significant changes to residential property taxes which were confirmed in this week’s autumn budget.

Blackburn-based Jennifer Prysiaznyj is director and head of residential conveyancing at Woodcocks, Haworth and Nuttall (WHN) Solicitors, which has nine offices across Greater Manchester and Lancashire.

She said this week’s autumn budget, the Labour government’s first since taking office, included a range of implications for the residential conveyancing market in England and it was important for those considering buying residential properties to understand these and respond accordingly.

In September 2022, the previous government temporarily raised the minimum threshold for Stamp Duty Land Tax (SDLT), which is paid to HM Revenue and Customs when someone buys a property, in England to £250,000 until March 31, 2025. 

This meant all properties purchased for less than this price do not currently pay SDLT unless the purchaser already owns other residential property.

Jennifer said there had been hopes among the residential property industry that these raised thresholds would be extended in the budget, but the absence of any announcement by chancellor Rachel Reeves in her statement confirmed the return to the original £125,000 threshold.

Jennifer said: “That means anyone buying a property over £125,000 will have to pay two per cent of its price above this value in tax from April 1, 2025. For example, if you buy a house for £200,000 from 1 April 2025 onwards, you will pay an additional £1,500 in tax, which is two per cent of £75,000.

“In addition to this, home buyers will pay five per cent of a property’s purchase price above £250,000.”

Jennifer said the purchase of residential properties generally takes around three to four months to complete for buyers in a chain, meaning those currently considering buying a property had a short window to ensure they could realistically complete the purchase before the threshold increase, allowing them to avoid this tax.

“In addition, there are specific implications for those buying their first property,” Jennifer added.

“The nil-rate threshold for First Time Buyers’ Relief was also temporarily increased from £300,000 to £425,000 by the Conservative government and this will now revert to its original £300,000 on April 1. That means buyers will pay SDLT on the price of their first home above £300,000 from April.

“We think between now and Christmas is going to be a very busy time for the residential property market.

“WHN has invested significantly in our conveyancing team across our offices over the past two years. Whether you are a first-time buyer, looking to buy your next home or if you are a residential property investor, our experts are ready to support you throughout this crucial period.”

Woodcocks Haworth and Nuttall (WHN) Solicitors employs over 100 staff across offices in Accrington, Bacup, Blackburn, Bury, Clitheroe, Great Harwood, Haslington, Rawtenstall and Salford. It has a residential conveyancing team of 18.

In addition to the absence of an extension to the temporarily raised SDLT thresholds in the budget, Jennifer highlighted the announced increase of the SDLT surcharge for those buying second properties and its implications.

She said: “If you own more than one property, the three per cent surcharge for properties up to £250,000 has been raised to five per cent and this came into effect on October 31 – the day after the budget.

“That will increase the cost for those buying second homes, including holiday homes as well as buy-to-let investors.”

Enjoyed this? Read more from Woodcocks Haworth & Nuttall Solicitors

Latest news

1

Pleasure Beach Resort takes home four prizes at UK Theme Park Awards Pleasure Beach Resort’s David Hill, head of rides, and Stuart Cumming, marketing manager with the awards

Pleasure Beach Resort takes home four prizes at UK Theme Park Awards

18 Sep 2025

2

Brookhouse Aerospace invests more than £500k in additional machinery to support growth Brookhouse Aerospace machining facility

Brookhouse Aerospace invests more than £500k in additional machinery to support growth

18 Sep 2025

3

Growth Plan maps out £20bn-plus investment journey Mo Isap from the Lancashire Business Board with the plan

Growth Plan maps out £20bn-plus investment journey

18 Sep 2025

4

Post Office future secured as council explores new options Abington Street Post Office

Post Office future secured as council explores new options

17 Sep 2025

5

Airframe Designs supports new defence strategy with pledge to nurture talent Jerrod Hartley

Airframe Designs supports new defence strategy with pledge to nurture talent

17 Sep 2025

Background image for hub sign up block

LBV Hub

Leverage Lancashire Business View platforms

Post your news
Post your events
Post your offers
Build your network
Improve your SEO
Gain coverage in the magazine
Sign-up
Events
CMI Level 5 Project Management Course
UCLanAerialCampus.jpg.jpg
LBV Hub Seminars
21 Feb 2025 - 21 Feb 2026

CMI Level 5 Project Management Course

Preston Campus, Preston, PR1 2HE

08:00 - 17:00

CMI Level 5 Management and Leadership Course
UCLanAerialCampus.jpg.jpg
LBV Hub Seminars
21 Feb 2025 - 21 Feb 2026

CMI Level 5 Management and Leadership Course

Preston Campus, Preston , PR1 2HE

09:00 - 17:00

Cumbria Business Expo 2025
https---cdn.evbuc.com-images-880461633-4862066883-1-original.20241022-110415.jpeg.jpg
LBV Hub Exhibitions
19 Sep 2025 - 19 Sep 2025

Cumbria Business Expo 2025

Carlisle Racecourse, Carlisle, CA2 4TS

09:00 - 15:00

Your Business, Your Region: Making sense of devolution and Local Government Reorganisation
Chorley Council breakfast event new
LBV Hub Networking
23 Sep 2025 - 23 Sep 2025

Your Business, Your Region: Making sense of devolution and Local Government Reorganisation

Worden Hall, Leyland, PR25 3DH

08:00 - 11:00

Preston Freelancer Meet-Up: September
Sept Freelancer (1).png.png
LBV Hub Networking
23 Sep 2025 - 23 Sep 2025

Preston Freelancer Meet-Up: September

Society1, Coworking Space, Preston, PR1 3LT

10:00 - 11:30

Speed Networking with BNI
2.png.png
LBV Hub Networking
24 Sep 2025 - 24 Sep 2025

Speed Networking with BNI

Chorley Football Club, Chorley, PR7 3DU

16:00 - 19:00

The Marketing Meetup IRL: Lancashire - September
TMM Lancashire
LBV Hub Networking
25 Sep 2025 - 25 Sep 2025

The Marketing Meetup IRL: Lancashire - September

Chorley, PR7 2SL

18:00 - 20:00

Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) drop-in day
MTD drop in session.jpg.jpg
LBV Hub Seminars
25 Sep 2025 - 25 Sep 2025

Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) drop-in day

Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) drop-in day, Blackburn, BB1 5QB

10:00 - 16:00

The Marketing Metrics That Matter – Sept 25
Metris 25.09.png.png
LBV Hub Seminars
25 Sep 2025 - 25 Sep 2025

The Marketing Metrics That Matter – Sept 25

Door4 Office, Burnley Wharf, Burnley, BB11 1JG

09:00 - 11:00

Help to grow management course
Help to grow - barriers to growth.png.png
LBV Hub Seminars
26 Sep 2025 - 16 Dec 2025

Help to grow management course

Preston Campus , Preston , PR1 2HE

09:00 - 15:00

The Future of Work: Tech, teams and thriving in a changing world
Oct PTC.png.png
LBV Hub Networking
07 Oct 2025 - 07 Oct 2025

The Future of Work: Tech, teams and thriving in a changing world

Society1, Coworking Space, Preston, PR1 3LT

18:00 - 19:30

Chamber Breakfast Networking – October
Lancs-cham-logo.jpg.jpg
LBV Hub Networking
07 Oct 2025 - 07 Oct 2025

Chamber Breakfast Networking – October

Soul Bowl, Morecambe, LA4 4BU

08:00 - 10:00

Advertise with us

Reaching 50,000 members, our print, digital and event platforms offer a fantastic way to raise your business profile and help you grow.

Find out more LBV124 Online Graphic
Subscribe now

Weekly news bulletin