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.
"Sharon, just to say how much we have appreciated your help, patience, hard work, determination and expertise during the sale of our property. Many thanks to you and everyone involved with the sale."