The Conservative Party is pushing to abolish SDLT (Stamp Duty Land Tax) on primary residential properties. Shadow Chancellor Sir Mel Stride has described the tax as "the most economically damaging tax" in the UK. This is an opposition proposal only. It is not current law.
What the Conservatives Are Proposing
Party leader Kemi Badenoch first outlined the policy at the Conservative Party conference in Manchester last October. The proposal would eliminate SDLT entirely on purchases of a buyer's primary home, across all price ranges.
Speaking on Winkworth's Property Exchange podcast, Stride argued the tax is "bunging up the housing market" and acting as a barrier to movement. He said: "Stamp duty damages aspiration and the economy. And this hits the majority of England. It's not just a London problem. The social consequences are far-reaching, from first time buyers to elderly people living in houses they can't afford to run."
The Shadow Chancellor added: "This wouldn't be a tax cut for the hugely affluent. It would enable people to move at every level of the market. Most people impacted by stamp duty don't live in London and most transactions are below £500,000."
To understand your current SDLT liability, you can use our free stamp duty calculator to see exactly what you would save if the proposal became law.
The Numbers: What You Currently Pay
SDLT applies in England. Scotland uses LBTT (Land and Buildings Transaction Tax). Wales uses LTT (Land Transaction Tax). The rates below apply to England only.
For a primary home purchase, the current SDLT rates are:
0% on the first £125,000
2% on the portion from £125,001 to £250,000
5% on the portion from £250,001 to £925,000
A worked example: on a property worth £350,000, your SDLT liability today is calculated as follows.
0% on the first £125,000 = £0
2% on the next £125,000 = £2,500
5% on the remaining £100,000 = £5,000
Total SDLT = £7,500
Under the Conservative proposal, if implemented, that bill would fall to zero. Speak to your accountant before making any purchase decisions based on a policy that does not yet exist in law.
Market Context and Funding Plans
Winkworth chief executive Dominic Agace cited transaction data that shows a significant decline in market activity. According to Agace (PropertyWire, June 2026), there were 72,000 transactions last year, compared with 140,000 transactions a few years ago. He described the impact as "devastating for the level of transactions and affecting all movement in the property market."
Stride outlined how the Conservatives would fund abolition: through "reductions in the benefits bill, reducing the size of the Civil Service to 2016 levels and cutting overseas aid." He also argued that every property transaction generates wider economic activity - for plumbers, builders, retailers, and all businesses connected with setting up home.
The proposal remains part of the opposition party's platform. The government has made no indication it intends to adopt it. For context on how stamp duty fits into wider property investment strategies, our guide covers the full picture. If you want to sense-check your numbers on any related borrowing, our stress test calculator can help with affordability planning.
Key Takeaways
The Conservative Party proposes abolishing SDLT on primary homes - this is opposition policy, not law, as of June 2026.
A buyer purchasing a £350,000 primary home currently pays £7,500 in SDLT; the proposal would reduce this to zero.
Shadow Chancellor Stride cites a fall from 140,000 to 72,000 annual transactions as evidence of the tax's drag on market activity.
The policy would be funded through cuts to the benefits bill, the Civil Service, and overseas aid - with no confirmed timeline for implementation.
SDLT applies in England only. Scotland (LBTT) and Wales (LTT) have separate land transaction tax regimes.
