HOW MUCH STAMP DUTY WILL YOU PAY 

 

Your solicitor will arrange for the Stamp Duty Land tax (SDLT) to be paid to HM Treasury on completion of your purchase.

Stamp Duty is calculated in bands, with each band of the purchase price calculated at the following rates:

Up to £125,000 – 0%

The next £125,000 (from £125,001 – £250,000) – 2%

The next £675,000 (from £250,001 – £925,000) – 5%

The next £575,000 (from £925,000 - £1.5m) – 10%

The remaining amount (above £1.5m) – 12%

Calculate Stamp Duty Land Tax (SDLT)

FIRST TIME BUYERS  

If you are a first time buyer, you do not pay stamp duty on the first £300,000, you will then pay 5% above £300,000 to £500,000. 

If the price is over £500,000, you follow the rules for people who’ve bought a home before.

You’re eligible if you, and anyone else you’re buying with, are first-time buyers 

 Example for a first time buyer:

 If you buy a house for £375,000, the SDLT you owe is calculated as follows:

0% on the first £300,000 = £0

5% on the final £75,000 = £3,750

Total SDLT = £3,750

 

  HIGHER RATES FOR ADDITIONAL PROPERTIES

You will have to pay 3% on top of the normal SDLR rates if you are buying a new residential property meaning you own more than one.

For more information please contact our Residential Sales departments