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 £125,000 of the property price, increasing to £300,000 for first-time buyers providing that the property does not exceed £500,000. 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 1st of October 2021.
| Standard Rate | First time buyer rate | Additional property rate | |
|---|---|---|---|
| 0 - £125,000 | 0% | 0% | 3% |
| £125,001 - £250,000 | 2% | 0% | 5% |
| £250,001 - £300,000 | 5% | 0% | 8% |
| £300,001 - £500,000 | 5% | 5% | 8% |
| £500,001 - £925,000 | 5% | 5% | 8% |
| £925,001 - £1,500,000 | 10% | 10% | 13% |
| Over £1,500,000 | 12% | 12% | 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 £15,000.
| Standard rate | Amount | Stamp duty | |
|---|---|---|---|
| 0 - £125,000 | 0% | £125,000 | 0 |
| £125,001 - £250,000 | 2% | £125,000 | £2,500 |
| £250,001 - £300,000 | 5% | £50,000 | £2,500 |
| £300,001 - £500,000 | 5% | £200,000 | £10500 |
| TOTAL | £500,000 | £15,000 |
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 £10,000.
| First time buyer rate | Amount | Stamp duty | |
|---|---|---|---|
| 0 - £125,000 | 0% | £125,000 | 0 |
| £125,001 - £250,000 | 0 | £125,000 | 0 |
| £250,001 - £300,000 | 0% | £50,000 | 0 |
| £300,001 - £500,000 | 5% | £200,000 | £10,000 |
| TOTAL | £500,000 | £10,000 |
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 - £125,000 | 3% | £125,000 | £3,750 |
| £125,001 - £250,000 | 5% | £125,000 | £6,250 |
| £250,001 - £300,000 | 8% | £50,000 | £4,000 |
| £300,001 - £500,000 | 8% | £200,000 | £16,000 |
| TOTAL | £500,000 | £30,000 |
