How to Calculate Stamp Duty
What is Stamp Duty?
Stamp Duty rates
Stamp Duty rates depend on several factors, including:
• How much your property or land costs
• When you bought your property
• Whether you’re a first-time buyer
• Whether you’re eligible for tax relief or exemption
1. Single Properties
You don’t pay Stamp Duty for properties of up to £250,000 (£425,000 for first-time buyers).
Purchase Price | Stamp Duty % |
Up to £250,000 |
0% |
£250,001 - £925,000 |
5% |
£925,001 - £1,500,000 |
10% |
£1,500,001 + |
12% |
Example:
The property you want to buy costs £295,000. The SDLT is calculated as follows:
• 0% on the first £250,000 = £0
• 5% on the remaining £45,000 = £2,250
• Total SDLT = £2,250
2. First-time buyers
Purchase price | Stamp Duty % |
Up to £425,000 | 0% |
£425,001 - £625,000 |
5% |
£625,001 - £1,500,000 |
10% |
£1,500,001 + |
12% |
Example:
Your new home costs £500,000. The SDLT is calculated as follows:
• 0% on the first £425,000 = £0
• 5% on the remaining £75,000 = £3,750
• Total SDLT = £3,750
3. Buy-to-let and second homes
Purchase Price | Stamp Duty % |
Up to £250,000 |
3% |
£250,001 - £925,000 |
8% |
£925,001 - £1,500,000 |
13% |
£1,500,001 + |
15% |
Example:
Your second home or buy-to-let costs £300,000. The SDLT is calculated as follows:
• 3% on the first £250,000 = £7,500
• 8% on the remaining £50,000 = £4,000
• Total SDLT = £11,500
Learn more about Stamp Duty and how it works in our comprehensive guide.
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