As a first-time buyer in England and Wales, you’re eligible for a Stamp Duty discount. If the property is worth £300,000, you pay no Stamp Duty Land Tax (SDLT) at all. If the house costs between £300,000 and £500,000, you pay SDLT at 5% on anything over the £300,000 threshold. If the house costs more than £500,000, you don’t benefit from the discount. The rules in Scotland are different, but first-time buyers can still get a discount, with the zero-tax threshold at £175,000 instead of £145,000. You can find out more on the gov.scot website. Welsh first-time buyers do not benefit from a Land Transaction Tax exemption. All the thresholds and how much you’ll pay can be found on the gov.wales website.