This calculator uses the latest tax rates to show your Stamp Duty for buying a home in the UK. Enter a few basic details, and the tool does the rest. Ideal for first-time buyers, movers, or investors.
Based on the figures you provided, you can expect to pay :
Take a look at some other mortgage calculators.
This stamp duty calculator helps you estimate the Stamp Duty Land Tax (SDLT) you’ll pay when buying a property in the UK.
Simply input the property’s purchase price, and the calculator does the rest. It considers the current SDLT rates and any applicable exemptions or surcharges.
Whether you’re a first-time buyer, home mover, or investing in a second property, this tool’s got you covered.
Using our stamp duty calculator is simple, here’s how to get started:
Note: This calculator estimates Stamp Duty Land Tax (SDLT) for England and Northern Ireland, Land Transaction Tax (LTT) for Wales, and Land and Buildings Transaction Tax (LBTT) for Scotland. Each region has its own stamp duty tax rates. ⬇️
While our stamp duty calculator is a handy tool, there are a few things to keep in mind:
After you’ve crunched the numbers, you’ll see your estimated stamp duty.
But what does this figure actually mean for you? 🤔
The result shows the amount of tax you’ll need to pay to HM Revenue and Customs (HMRC) when you purchase your property.
This is on top of your property price and other associated costs like solicitor fees or mortgage arrangement fees.
If you’re a first-time buyer, you might see a lower figure or even zero stamp duty, thanks to the first-time buyer relief. 😉
For home movers, the amount will depend on the property value and current rates.
And if you’re buying a second home or buy-to-let property, you’ll notice a higher figure due to the additional 3% surcharge.
Remember, this is an important cost to factor into your budget.
You’ll need to pay your stamp duty within 14 days of completing your property purchase, so it’s crucial to have this amount ready. 🗓️
Stamp Duty Land Tax (SDLT) , often simply called stamp duty, is a tax you pay when buying property or land over a certain price in England and Northern Ireland.
It’s a chunk of money that often catches first-time buyers off guard, so it’s crucial to understand what it is and how it works.
Historically, stamp duty dates back to the 17th century when physical stamps were used on documents to show the tax had been paid.
While we’ve moved on from actual stamps, the name has stuck around.
Well, it’s a significant cost that can impact your property purchase in several ways:
As discussed, the amount of stamp duty you’ll pay depends on several factors, including the property price, your buyer status, and whether it’s your main residence or an additional property.
Let’s break it down:
Standard Stamp Duty Land Tax (England & Northern Ireland):
For standard purchases (not first-time buyers or additional properties), the rates as of April 2024 are:
Property Price (£) | SDLT rate |
£0 to £250,000 | Zero |
£250,001 to £925,000 | 5% |
£925,001 to £1,500,000 | 10% |
Over £1,500,000 | 12% |
Remember, stamp duty is calculated in bands.
For example, if you’re buying a property for £400,000, you’d pay:
First Time Buyer SDLT:
If you’re a first-time buyer, you get a better deal:
Property Price(£) | SDLT rate |
£0 to £425,000 | Zero |
£425,001 to £625,000 | 5% |
Over £625,000 | Standard rates apply |
This relief can save first-time buyers up to £11,250, making that first step onto the property ladder a bit easier.
Second Home/ Buy-to-Let Property Stamp Duty:
Buying a second home or buy-to-let property? You’ll need to pay an additional 3% on top of the standard rates:
Property Price (£) | SDLT Rate (Buy-to-Let) |
£0 – £40,000 | 0% |
£0 – £250,000 | 3% |
£250,001 – £925,000 | 8% |
£925,001 – £1.5m | 13% |
Over 1.5m | 15% |
England and Northern Ireland Rates
Wales uses Land Transaction Tax (LTT)
Standard Rates:
Property Price (£) | LTT Rate |
Up to £225,000 | 0% |
£225,001 to £400,000 | 6% |
£400,001 to £750,000 | 7.5% |
£750,001 to £1.5 million | 10% |
Over £1.5 million | 12% |
Wales Land Transaction Standard Tax Rates
Wales doesn’t have a specific first time buyer relief. Instead, all residential property purchases up to £225,000 are exempt from Land Transaction Tax (LTT), applicable to all buyers, not just first-time buyers
Second Home/Buy-to-Let Properties Land Transaction Tax (LTT) Rates:
If you’re buying a second home, a 4% surcharge is applied on top of standard rates. Below are the current rates for second home purchases:
Property Price (£) | LTT Rate (Buy-to-Let) |
Up to £180,000 | 4% |
£180,001 – £250,000 | 7.5% |
£250,001 – £400,000 | 9% |
£400,001 – £750,000 | 11.5% |
£750,000 – £1.5 million | 14% |
Over £1.5 million | 16% |
Wales Land Transaction Tax (LTT) Buy-to-let Rates
Scotland uses Land and Buildings Transaction Tax (LBTT)
Standard Rates:
Property Price (£) | LBTT Rate |
Up to £145,000 | 0% |
£145,001 to £250,000 | 2% |
£250,001 to £325,000 | 5% |
£325,001 to £750,000 | 10% |
Over £750,000 | 12% |
Scotland Land and Buildings Transaction Standard Tax Rates
First Time Buyers LBTT Rates:
Property Price (£) | LBTT Rate |
Up to £175,000 | 0% |
£175,001 to £250,000 | 2% |
Over £250,001 | Standard rates apply |
Scotland First time buyers relief applies to properties below £175,000
Second Home/Buy-to-Let Properties LBTT Rates:
For second home purchases, you must pay an Additional Dwelling Supplement (ADS) of 6% on the full property price over £40,000. This new rate applies to all transactions made from December 16, 2022, onwards.
For agreements made on or before December 15, 2022, the previous ADS rate of 4% still applies.
Here are the current band rates:
Property Price (£) | LBTT Rate (Buy-to-Let) |
£40,000 or less | 0% |
£0 – £145,000 | 6% |
£145,001 – £250,000 | 8% |
£250,001 – £325,000 | 11% |
£325,001 – £750,000 | 16% |
£750,000 over | 18% |
Scotland LBTT Buy-to-let Tax Rates
Timing is crucial when it comes to stamp duty. ⏳
You need to pay your stamp duty within 14 days of completing your property purchase. This is when you become the legal owner of the property.
Here’s how it typically works:
Missing the 14-day deadline can result in penalties and interest charges, so it’s crucial to ensure everything is sorted promptly.
Stamp duty and mortgages are closely linked, but they’re separate costs.
Your stamp duty isn’t part of your mortgage loan, but it does impact your overall property purchase in several ways:
It’s a common question: can you just add your stamp duty to your mortgage? 🧐
While it might seem like an easy solution, it’s not straightforward and often not advisable.
Here’s why:
Instead of adding stamp duty to your mortgage, consider these alternatives:
Yes, non-UK residents do pay Stamp Duty Land Tax when buying property in England or Northern Ireland.
In fact, since April 2021, they pay an additional 2% surcharge on top of the standard rates (including the 3% surcharge for second homes if applicable).
This means non-resident buyers could pay up to 17% stamp duty on properties over £1.5 million. The surcharge applies to both individuals and companies.
There are some exceptions and complex rules around residency status, so if you’re a non-UK resident looking to buy property, it’s crucial to get professional advice to understand your exact liability.
There you have it – Stamp duty, sounds daunting, doesn’t it?
But here’s the thing: it’s a crucial part of buying property in the UK, and it doesn’t have to be a headache.
With our stamp duty calculator, you can breeze through budgeting and dodge those nasty surprises.
Just remember, stamp duty rates and thresholds can shift, so always stay updated. And while our calculator is a fantastic launchpad, a professional’s touch is irreplaceable.
Here’s where whole-of-market mortgage brokers can help.
They have access to a wide range of lenders and can find the perfect mortgage deal for YOU.
They guide you through the mortgage process, reduce stress, and secure the BEST terms.
Need a good broker? Reach out. We’ll connect you with a seasoned pro who’ll turn your mortgage maze into a straight path.
Whether you’re a first-time buyer, a home mover, or an investor, understanding stamp duty early and having a good broker will help you make smart decisions and ensure a smoother property buying journey.
Happy house hunting! 😀
Do I have to pay stamp duty when remortgaging?
Good news! You don’t typically have to pay stamp duty when you remortgage.
Stamp duty is only payable when you buy a property, not when you switch mortgage deals or lenders on the same property.
However, there are a couple of exceptions:
These situations are complex, so always seek professional advice if you’re unsure.
Can I reduce stamp duty?
While you can’t avoid paying stamp duty if you’re liable for it, there are legal ways to potentially reduce your bill:
Remember, tax avoidance schemes are risky and often illegal. Always seek professional advice and ensure you’re operating within the law.
How much is shared-ownership stamp duty?
Shared ownership properties have special stamp duty rules. You have two options:
The rates depend on whether you’re a first-time buyer and the property value.
It’s a complex area, so using a stamp duty calculator and getting professional advice is crucial for shared ownership purchases.
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