Stamp Duty Calculator

Calculate how much stamp duty you pay for a residential UK property

What is stamp duty?

Stamp duty, also known as Stamp Duty Land Tax (SDLT), is a tax imposed by the government of England on the purchase of properties. It is applicable to both residential and commercial properties. The amount of stamp duty you pay depends on the property price and the location of the property.

How much is stamp duty?

The amount of stamp duty you pay is determined by the purchase price of the property. The rates of stamp duty vary based on different thresholds. The current stamp duty thresholds and rates for residential properties in England are as follows:

  • Up to £125,000: 0% stamp duty
  • £125,001 to £250,000: 2% stamp duty
  • £250,001 to £925,000: 5% stamp duty
  • £925,001 to £1.5 million: 10% stamp duty
  • Above £1.5 million: 12% stamp duty

For example, if the property price is £300,000, the stamp duty would be calculated as follows:

  • 0% on the first £125,000 = £0
  • 2% on the next £125,000 = £2,500
  • 5% on the remaining £50,000 = £2,500
  • Total stamp duty = £5,000

Do first-time buyers pay stamp duty?

First-time buyers in England are eligible for stamp duty relief. If you are a first-time buyer, you can claim relief on the first £300,000 of the property price. Properties priced between £300,000 and £500,000 will be subject to a reduced stamp duty rate.

Stamp duty for non-residents

Non-residents are subject to an additional 2% stamp duty surcharge when purchasing residential properties in England. This surcharge applies on top of the standard stamp duty rates.

When do you pay stamp duty and how is it paid?

Stamp duty must be paid within 14 days of completing the property purchase. Your solicitor or conveyancer will usually handle the payment on your behalf and ensure it is paid to HM Revenue and Customs (HMRC).

How much is stamp duty on second homes?

If you already own a property and you are purchasing an additional property, such as a second home or a buy-to-let investment, you will be subject to an additional 3% stamp duty surcharge. This surcharge applies to all bands of the stamp duty rates.

How much is buy-to-let stamp duty?

Buy-to-let properties and second homes are subject to the same stamp duty rates as mentioned earlier. The additional 3% stamp duty surcharge applies to the entire purchase price.

How much is new-build stamp duty?

The stamp duty rates for new-build properties are the same as for other residential properties. However, if the property is a new build and it costs £500,000 or less, you may be eligible for relief on the first £300,000. This relief applies to both first-time buyers and non-first-time buyers.

How much is shared-ownership stamp duty?

For shared-ownership properties, you will only pay stamp duty on the portion of the property you are purchasing. The rates are the same as for other residential properties. If the shared ownership property price is below the threshold, you may be eligible for full relief.

Can I reduce stamp duty?

Stamp duty is a legal requirement, and the rates are set by the government. However, there are some ways you can potentially reduce your stamp duty liability. One option is to negotiate the purchase price of the property. A lower purchase price would result in a lower stamp duty amount. Additionally, if you are a first-time buyer or purchasing a shared-ownership property, you may be eligible for certain reliefs or exemptions.

Are there any stamp duty exemptions?

There are some cases where you may be exempt from paying stamp duty. For example, if you are transferring a property as a gift or as part of an inheritance, you may not need to pay stamp duty. However, it is important to consult with a professional to understand the specific circumstances and requirements for stamp duty exemptions.

Can I add stamp duty to my mortgage?

In general, you cannot add the stamp duty amount to your mortgage. Stamp duty must be paid separately and cannot be financed through a mortgage. It is important to budget for stamp duty and have the necessary funds available to cover the payment.

How to use Stamp Duty Calculator?

Follow these simple steps to calculate your stamp duty:

  1. Enter the property price in the "What is the property price?" field.
  2. Specify the location where you are buying by entering it in the "Where are you buying?" field.
  3. Select whether you are a first-time buyer or not from the dropdown menu labeled "Are you a first-time buyer?".
  4. Indicate if this property will be your only property by selecting "Yes" or "No" from the dropdown menu labeled "Will this be your only property?".
  5. Click the "Calculate" button to get your stamp duty result.

Once you click "Calculate," the Stamp Duty Calculator will process the information you provided and display the amount of stamp duty you will need to pay based on the property price, location, and your buyer status.

Remember, this calculator provides an estimate and should be used for informational purposes only. For precise stamp duty calculations and advice, it is always recommended to consult with a professional or the appropriate authorities.

Get started now and calculate your stamp duty!

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