STAMP DUTY CALCULATOR
| STAMP DUTY TO PAY | EFFECTIVE RATE |
|---|
| Tax Band | % | Taxable Sum | Tax |
|---|
When you buy a home the following Stamp Duty rates will apply to the relevant proportion of the purchase price.
There is no Stamp Duty to pay for the first £250,000 of the property price, with the Stamp Duty threshold increasing to £425,000 for first-time buyers providing that the property does not exceed £625,000. If you are a second home buyer you will pay a 3% surcharge known as ‘Higher Rates on Additional Dwellings’ or ‘HRAD’.
The rates stated are for Stamp Duty Land Tax that is payable from 23 September 2022.
| Standard Rate | First-time buyer rate | Additional property rate | |
|---|---|---|---|
| £0 - £250,000 | 0% | 0% | 3% |
| £250,001 - £425,000 | 5% | 0% | 8% |
| £425,001 - £625,000 | 5% | 5% | 8% |
| £625,001 - £925,000 | 5% | N/A | 8% |
| £925,001 - £1,500,000 | 10% | N/A | 13% |
| Over £1,500,000 | 12% | N/A | 15% |
Standard rate example
If you have sold your existing home and bought a new property for £500,000 (and you do not own any other properties) you would pay Stamp Duty of £12,500.
| Standard rate | Amount | Stamp duty | |
|---|---|---|---|
| £0 - £250,000 | 0% | £250,000 | £0 |
| £205,001 - £500,000 | 5% | £250,000 | £12,500 |
| TOTAL | £500,000 | £12,500 |
First-time buyer example
If you are a first-time buyer who is buying a property for £500,000 you would pay Stamp Duty of £3,750.
| First time buyer rate | Amount | Stamp duty | |
|---|---|---|---|
| £0 - £250,000 | 0% | £250,000 | £0 |
| £250,001 - £425,000 | 0% | £175,000 | £0 |
| £425,001 - £500,000 | 5% | £75,000 | £3,750 |
| TOTAL | £500,000 | £3,750 |
Second homeowner example
If you're buying an additional property, including buy-to-let and holiday homes, you'll have to pay additional Stamp Duty. If the purchase price of the new property is £500,000 you would pay Stamp Duty of £30,000.
| Additional property rate | Amount | Stamp Duty | |
|---|---|---|---|
| £0 - £250,000 | 3% | £250,000 | £7,500 |
| £250,001 - £500,000 | 8% | £250,000 | £20,000 |
TOTAL | £500,000 | £27,500 |
