What is Stamp Duty?

07/11/2018
Stamp Duty Land Tax (SDLT) is the tax charged by the Government on a home buyer when you buy a home in England and Wales. The tax payable depends on the property's value and whether or not you own a second home or not.

It is a banded tax and new rates and method of application came into force 4 December 2014 - Please note new stamp duty for second homes came into power April 2016 - read the full article here - Second Home 3% Stamp Duty Surcharge from April 2016


NB The calculator also factors in First Time Buyer stamp duty relief for England (no equivalent for purchases in Wales, which has a different regulator, The Welsh Treasury - click to use our Welsh Stamp Duty Calculator

*Fixed Fee – No Sale No Fee – On all Mortgage Lender Panels

How much is stamp duty?

In England and Wales, stamp duty rates are paid on the part of the property price within each tax band.

Purchase Price New stamp duty rates paid on the part of the property price within each tax band

0 - £125,000


Zero
£125,001 to £250,000

 2%
£250,001 to £925,000

 5%
£925,001 to £1.5 million

 10%
More than £1.5 million 12%

Example 1: I don't own another property and am buying for £505,000. How much stamp duty do I pay?


  • Nothing on the first £125,000
  • 2 % of the value from £125,001 - £250,000 = £2,500
  • 5% of the value from £250,001 - £505,000 = £12,750
  • Total Stamp Duty payable = £15,250
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Example 2: I don't own another property and am buying for £165,000. How much stamp duty do I pay?


  • Nothing on the first £125,000
  • 2 % of the value from £125,001 - £165,000 = £800
  • Total Stamp Duty payable = £800


*Fixed Fee – No Sale No Fee – On all Mortgage Lender Panels


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