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Stamp Duty Calculator

Single Property

Purchase Price

(Enter numbers only)

Effective Rate
00.00 %
Tax Band % Taxable Sum Tax
less than £125k 0
£125k to £250k 2
£250k to £925k 5
£925k to £1.5m 10
rest over £1.5m 12

Additional Property

Purchase Price

(Enter numbers only)

Effective Rate
00.00 %
Tax Band % Taxable Sum Tax
less than £125k 3
£125k to £250k 5
£250k to £925k 8
£925k to £1.5m 13
rest over £1.5m 15

First Time Buyer

Purchase Price

(Enter numbers only)

0

Effective Rate
0.00 %
Tax Band % Taxable Sum Tax
less than £300k 0(2/5)*
£1000
£0
£300k to £500k 5
£0
£0
£500k to £925k 5
£0
£0
£925k to £1.5m 10
£0
£0
rest over £1.5m 12
£0
£0
*For purchases over £500k, SDLT is charged at 2% from £125k to £250k and 5% from £250k to £925k.

First-time buyer

Property is a buy-to-let or second home

What is stamp duty?

Stamp duty land tax (or land and buildings transaction tax in Scotland) is a lump-sum tax that anyone buying a property or land costing more than a set amount has to pay. The rate you'll pay the tax at varies based on the price of the property and the type (we'll focus on residential buildings, rather than commercial).

How is Stamp Duty calculated?

Under the current system – which applies to England & Northern Ireland – you'll only pay the rate for the proportion of the property that's at that rate. It's quite complex, so here's an example to better illustrate how it works:

Let's assume you're buying a property for £500,000.

  • You pay nothing below £125,000, which is £0.

  • You pay 2% on between £125,000 and £250,000, which is £2,500.

  • You pay 5% on the value of the property above £250,000 and £500,000, which is £12,500.

So in total this means you'll pay £15,000 (£0 + £2,500 + £12,500).

How it works for first-time buyers buying a property worth up to £500,000

The system is different if you're a first-time buyer buying a property in England or Northern Ireland worth up to £500,000. You'll pay zero stamp duty on the first £300,000 of any home costing up to £500,000 (and only 5% on any proportion between £300k and £500k).

This means the new stamp duty rates for first-time buyers are:

  • Up to £300,000 purchase price: 0% stamp duty

  • £300,000.01 to £500,000: 5% (on that portion of the purchase price only).

Using the example above, for a first-time buyer purchasing a property worth £500,000, the calculations will be slightly different:

  • You pay nothing below £300,000, which is £0.

  • You pay 5% on the value of the property above £300,000, which is £10,000.

So in total, this means you'll pay £10,000 (£0 + £10,000).

  • If you buy a first home costing more than £500,000, you won't benefit from any change and will be buying under the standard system.

Who counts as a first-time buyer?

A first-time buyer is someone who's never owned a property, whether bought or inherited, anywhere in the world. So if you inherited your late grandma's holiday home in Spain, even though you sold it straight away, you won't count as a first-time buyer under these rules.You also won't count as a first-time buyer if you're buying your first property with the intention to let it out.

How do I pay Stamp Duty?

Usually, your solicitor will deal with the Stamp Duty return and any payment due for you, although you can do it yourself.

Either way, you're responsible for making sure it's all submitted on time.

If the price of your new home is under £125,000, you must still submit a return (unless exempt) even though you won't need to pay any Stamp Duty.

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