Calculators

NEW! Stamp Duty Calculator - Residential Property

This NEW residential stamp duty calculator can be used to work out how much stamp duty is due before and after 1st April 2016, when a 3% surcharge will be introduced on purchases of additional residential properties including buy to let properties and second homes.

Stamp Duty Land Tax (SDLT) Rates

Stamp Duty is applicable in England, Wales & Northern Ireland. Scotland imposes a Land and Buildings Transactions Tax (LBTT) - scroll down for further information.

Stamp duty on residential property is calculated on a progressive sliding scale, with the tax being determined by reference to the SDLT rate for each relevant band - or "slice" - of chargeable consideration:

Property price    SDLT Rate
Up to £125,000   0%
£125,000.01 - £250,000 2%
£250,000.01 - £925,000 5%
£925,000.01 - £1,500,000 10%
£1,500,000.01+ 12%

         

Example:

          On a property priced at £200,000, stamp duty would be payable on:

          2% of £75,000 (the amount above £125,000) = £1,500
          Total: £1,500

3% SDLT Surcharge on Buy to Let and Second Home Purchases

With effect from 1st April 2016, a surcharge of 3% of the total purchase price will apply on purchases of additional residential properties, such as buy to let properties and second homes.

          Example:

          On a buy to let (or second home) property priced at £200,000 stamp duty would be payable on:

          £75,000 (the amount above £125,000) = £1,500
          Plus 3% of £200,000 = £6,000
          Total = £7,500

Land & Buildings Transaction Tax (LBTT) Rates

Applicable in Scotland since it replaced the UK stamp duty on 1st April 2015.

LBTT is a tax applied to residential and commercial land and buildings transactions (including commercial purchases and commercial leases) where a chargeable interest is acquired.

The structure of LBTT is designed so that the charge is more proportionate to the actual price of the property. Like Stamp Duty, the percentage rate for each band in LBTT is applied only to the part of the price over the relevant threshold and up to the next threshold.

For residential transactions the rates are:

Purchase price  LBTT Rate
Up to £145k 0%
Above £145k to £250k 2%
Above £250k to £325k 5%
Above £325k to £750k 10%
Over £750k 12%

 

For non-residential transactions the rates are:

Purchase price  LBTT Rate
Up to £150k   0%
Above £150k to £350k 3%
Above £350k 4.5%

 

3% LBTT Surcharge on Buy to Let and Second Home Purchases

Like Stamp Duty, from 1st April a 3% surcharge on top of the existing LBTT rate will apply to those purchasing additional homes (second homes and buy to let properties) for £40,000 or more.

ANY PROPERTY USED AS SECURITY, WHICH MAY INCLUDE YOUR HOME, MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.