Housing guides
Explainers for United Kingdom, with named sources and checked dates where available.
All 5 guides
Explainer3 min
Stamp Duty Land Tax is a progressive tax on property price bands. The standard threshold is £125,000; first-time buyers buying a property up to £500,000 pay nothing on the first £300,000. Scotland and Wales have their own land transaction taxes.
Source: HMRC, Stamp Duty Land Tax rates for residential property · Checked
Explainer3 min
Council Tax bands are based on the 1991 open-market value of a property. Parliament sets the band ranges across England, the Valuation Office places each property in a band, and the local council sets the actual amount payable.
Source: GOV.UK, Council Tax · Checked
Explainer1 min
The Lifetime ISA contribution limit and government bonus are separate from the conditions for taking money out. A property price cap is only one first-home withdrawal condition.
Source: HMRC, Lifetime ISA · Checked
Explainer2 min
Private Residence Relief can remove Capital Gains Tax on a home sale when all the full-relief conditions apply. Time away and the final ownership period have separate rules.
Source: HMRC, Private Residence Relief · Checked
Explainer2 min
The Rent a Room Scheme covers furnished accommodation let in the landlord’s own home. Shared rental income reduces the threshold, while tax-return choices determine how income is reported.
Source: HMRC, Rent a Room Scheme · Checked