Stamp Duty Calculator
What is Stamp Duty Land Tax?
Stamp Duty Land Tax (SDLT) is what you are required to pay the government when you purchase a property in the UK.
The rates of stamp duty were changed on 23rd September 2022.
The amount you pay varies depending on the value of your home. You can find out here how much your Stamp Duty tax is likely to be by using our stamp duty calculator below.
Just enter your property purchase price and press Calculate and your SDLT will be shown.
| Purchase Price Bands (£) | Rate of Stamp Duty | Breakdown |
|---|---|---|
| Less than £250k | 0% | |
| £250k - £925k | 5% | |
| £925k - £1.5m | 10% | |
| Rest over £1.5m | 12% | |
| Total: | ||
When do you pay stamp duty?
Stamp duty now needs to be paid within 14 days after completing on a property purchase or when the contract has been substantially performed.
In reality the reduced time frame should not have a significant impact on individuals. This is because most SDLT returns will be submitted by a solicitor or conveyancer acting on behalf of their client.
What are the stamp duty rates?
The freehold residential stamp duty rates in England and Northern Ireland are shown in the table below.
| Tax Band (£) | Normal Rate | Additional Property |
|---|---|---|
| Less than £125k | 0% | 3%* |
| £125k to £250k | 2% | 5% |
| £250k to £925k | 5% | 8% |
| £925k - £1.5m | 10% | 13% |
| Rest over £1.5m | 12% | 15% |
How much does a second home cost?
There is a surcharge applied to second home purchases, which applies on top of the revised standard rates shown.
The higher rates will be charged on the portion of the value of the property that falls into each band.
Example:
An additional residential property is purchased for £1,600,000.
SDLT is calculated as follows:
3% on the first £125k = £3,750
5% between £125k and £250k = £6,250
8% between £250k and £925k = £54,000
13% between £925k and £1.5m = £74,750
15% on the remaining portion between £1.5m and £1.6m = £15,000
The total SDLT due is therefore: £3,750 + £6,250 + £54,000 + £74,750 + £15,000 = £153,750
First time buyers
First time buyers will not pay any stamp duty on property purchases below £425,000 with further relief available for transactions up to £625,000.
No SDLT up to £425,000 for First Time Buyers
5% SDLT on the portion from £425,001 to £625,000
If the price is over £625,000, you cannot claim the relief
Buy to let & second homes
Stamp duty rates have increased for anyone purchasing an additional property. Additional property types include buy to let investments and second homes. Since April 2016 a 3% surcharge has been applied on top of the normal SDLT rate.
The higher stamp duty rates only apply to additional residential property. Land and other types of property are not normally considered when determining ownership of additional property for stamp duty purposes.
Replacing a main residence
The higher rates of stamp duty should not apply when moving home as long as the main residence is sold prior to the purchase of the new property or simultaneously with it. Normal rates of stamp duty will apply for anyone replacing a main residence even if they own two properties in the short term.
If a previous home is not sold immediately, stamp duty will be calculated at the higher rate and a refund may be claimed later.
A stamp duty refund can be claimed up to 12 months after selling a previous home as long as the old home is sold within 3 years of purchasing the new one.
More information can be found in the UK Government stamp duty land tax guide.
Stamp duty for non-UK residents
An increase to stamp duty for non-UK residents was announced in the 2020 Budget.
From April 2021 someone living overseas could pay an additional 2 percent in stamp duty if they purchase a property in England or Northern Ireland. The increase in stamp duty means that for an additional property the top rate of SDLT payable will now be 17%.
The surcharge will apply to anyone who is non-UK resident including British expats based overseas. Someone who is not present in the UK for at least 183 days in the 12-month period leading up to buying a property will have non-UK resident status.
