Stamp Duty Calculator
You must pay Stamp Duty Land Tax (SDLT) if you buy a property or land over a certain price in England, Wales and Northern Ireland. The current SDLT threshold is £125,000 for residential properties and £150,000 for non-residential land and properties.
You pay the tax when you:
- Buy a freehold property
- Buy a new or existing leasehold property
- Buy a property through a shared ownership scheme
- Are transferred land or property in exchange for payment e.g. you take on a mortgage or buy a share in a house
You pay Stamp Duty on increasing portions of the property price above £125,000. Unless you are a first time buyer, then Stamp Duty is waivered for a purchase of up to £300,000.
|Property or lease premium or transfer value||SDLT rate|
|Up to £125,000 (excluding purchases below £40,000)|
|The next £125,000 (the portion from £125,001 to £250,000)||2%|
|The next £675,000 (the portion from £250,001 to £925,000)||5%|
|The next £575,000 (the portion from £925,001 to £1.5 million)||10%|
|The remaining amount (the portion above £1.5 million)||12%|
If you buy a house for £275,000, the SDLT you owe is calculated as follows:
- 0% on the first £125,000 = £0
- 2% on the next £125,000 = £2,500
- 5% on the final £25,000 = £1,250
- Total SDLT payable = £3,750
To work out how much Stamp Duty you will have to pay, click here which will take you to the Gov.uk website.
Higher rates for additional properties
From 1 April 2016, you’ll usually have to pay 3% on top of the normal SDLT rates if buying a new residential property means you’ll own more than one.
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