What to Know About Today’s Budget - and How It Might Affect Stamp Duty (SDLT)

The 2025 Autumn Budget is being delivered today, Wednesday 26 November, by Chancellor Rachel Reeves, shortly after Prime Minister’s Questions. With slow economic growth, rising debt costs and increased pressure on public finances, many analysts expect Reeves to take a close look at property taxation.

Here’s what buyers, sellers and homeowners should know as we await the Chancellor’s statement.

Why Stamp Duty Might Feature in Rachel Reeves’ Budget

Stamp Duty Land Tax (SDLT) has long been criticised for making it harder for people to move home. Ahead of today’s announcement, rumours have circulated that Rachel Reeves could be preparing to reform the system.

One of the most talked-about ideas is the potential abolition of SDLT for owner-occupiers, replaced by a new annual property tax. Early suggestions indicate that any annual charge might apply only to higher-value homes, for example, properties over £500,000, while leaving lower-valued homes outside the scope.

If implemented, this would mark a major structural shift: moving from a one-off transaction tax to an ongoing yearly charge.

What We Still Don’t Know

Until Rachel Reeves delivers her Budget, key details remain unknown:

• Whether changes would apply only to owner-occupied homes or also affect second homes and investment properties
• Whether any new property tax would be phased in, introduced immediately or include transitional arrangements
• How Parliament may alter the initial proposals as the Finance Bill moves forward

For now, all potential reforms should be viewed as possibilities rather than certainties.

If You’re Planning to Buy: What Today Could Mean

With speculation swirling and no confirmed details yet:

• Buying soon? If your purchase is time-sensitive or you’re buying an owner-occupied home, continuing as planned may be safer than delaying for an uncertain reform.
• High-value properties: If an annual property tax replaces SDLT, long-term ownership costs could change significantly.
• Investors and second-home buyers: Any restructuring of property taxation may affect both upfront costs and future liabilities.

Once the Budget Drops: What to Check

After Rachel Reeves publishes her Autumn Budget, pay attention to:

• Whether SDLT reforms are included
• Any property-value thresholds
• Whether exemptions apply to first-time buyers, owner-occupiers or specific property types
• The start date of any changes, including transitional rules

If you’re mid-purchase or recently completed, it may be worth speaking to your solicitor or tax adviser, especially if changes apply retrospectively.

How SCA Tax Can Help

SCA Tax specialises in SDLT assessments and refund claims. If Rachel Reeves announces changes to stamp duty today, we can:

• Review whether your purchase is affected
• Confirm SDLT compliance under the current rules
• Help you navigate any transition to a new property tax system
• Identify whether you may have overpaid SDLT under existing legislation

As the landscape shifts, expert guidance can help ensure you’re paying the correct amount, and not a penny more.