Calculators & Tools

Stamp Duty Calculator for Residential Property

This residential stamp duty calculator can be used to work out how much stamp duty is due on purchases of residential property. It should be used as a guide only, as exceptions may apply. It calculates the consideration due by individuals and corporate vehicles on first home purchases, second home purchases and buy to let property.

Stamp Duty Land Tax (SDLT) Rates

The amount of tax you will pay when buying a residential property in the UK varies depending on which country the property is located in.

England and Northern Ireland imposes a Stamp Duty Land Tax (SDLT) 

Scotland imposes a Land and Buildings Transactions Tax (LBTT) 

Wales imposes a Land Transaction Tax (LTT)

Please note - The following information is to be used as a guide only.

England & Northern Ireland

Stamp duty on residential property is calculated on a progressive sliding scale. The property purchase price determines the amount of stamp duty you will pay; you can use the below table to work out the SLDT due.

Following the 2020 COVID-19 outbreak, the UK Government announced a temporary change to the stamp duty rates in England and Northern Ireland for purchases completing between 8th July 2020 and the 31st March 2021. During this time, residential SDLT rates are replaced with the rates below. 

Please note - this only applies in England and Northern Ireland. For purchases in Scotland and Wales, please see below. 

SLDT Rates for residential properties: 8th July 2020 - 31st March 2021 

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

Example:

On a property priced at £600,000, stamp duty would be payable on:

   5% of £100,000 (the amount above £500,000) = £5,000
   Total: £5,000

These temporary rates will also override the special rules for first-time buyers.

Standard SLDT Rates for residential properties: (excluding the period between 8th July 2020 - 31st March 2021) 

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 £600,000, stamp duty was payable on:

   2% of £125,000 (the amount between £125,000 and £250,000) = £2,500 plus 5% of £350,000 (the amount above £250,000) = £17,500
   Total: £20,000

In this example, the new stamp duty rules will reduce the SDLT payable by £15,000.


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 applies on purchases of additional residential properties, such as buy to let properties and second homes.

During the period of 8th July 2020 and 31st March 2021, buy to let properties and second homes will also benefit from the new basic SDLT rates, as shown above. They will, however, still incur the 3% surcharge on the full property value.

Property price    SDLT Rate
Up to £500,000 0%
£500,000.01 - £925,000 8%
£925,000.01 - £1,500,000 13%
£1,500,000.01+ 15%

Example:

On a buy to let (or second home) property priced at £600,000 stamp duty would be payable on:
   
   £100,000 (the amount above £500,000) = £8,000
   Plus 3% of £500,000 = £15,000
   Total = £23,000

 Stamp Duty relief for first-time buyers

**The relief for first-time buyers has been replaced by the new stamp duty bandings for the period of 8th July 2020 and the 31st March 2021**

With immediate effect, first-time time buyers will pay no stamp duty on properties costing up to £300k. Discounts are applied on properties costing over £300k up to £500k. Should a property cost more than £500k, the entire discount is lost. More information >

Scotland

Land & Buildings Transaction Tax (LBTT) Rates

The Scottish Government introduced a temporary increase in the nil rate band for Land and Buildings Transaction Tax (LBTT), raising the minimum threshold to £250,000. This change takes effect from the 15th July 2020 up to and including the 31st March 2021.

Where the Additional Dwelling Supplement (ADS) applies, the change to the starting threshold will also apply to the transaction. However, the 4% ADS will remain payable for the total purchase price.


Standard LBTT Rates for residential properties: 15th July 2020 - 31st March 2021 

Purchase price  LBTT Rate
Up to £250,000 0%
Above £250,000 to £325,000 5%
Above £325,000 to £750,000 10%
Over £750,000 12%


Standard LBTT Rates for residential properties: (excluding the period of 15th July 2020 - 31st March 2021) 

Purchase price  LBTT Rate
Up to £145,000 0%
Above £145,000 to £250,000 2%
Above £250,000 to £325,000 5%
Above £325,000 to £750,000 10%
Over £750,000 12%


Relief for first-time buyers

The zero tax threshold for first-time buyers is £175,000. First-time buyers buying a property above £175,000 will also benefit from the relief on the portion of the purchase price below the threshold. So, all first-time buyers will benefit by up to £600.

 

4% Additional Dwelling Surcharge (ADS) on Buy to Let and Second Home Purchases

As of the 25th January 2019, an additional dwelling surcharge of 4%, will apply to properties of £40,000 or more. 

Between 15th July 2020 and 31st March 2021 - where the Additional Dwelling Supplement (ADS) applies, the change to the starting threshold will also apply to the transaction. However, the 4% ADS will remain payable for the total purchase price.

Wales 

Land Transaction Tax (LTT)

Introduced in April 2018, Land Transaction Tax applies in Wales.

As with Stamp Duty and Land and Buildings Transaction Tax, LTT is calculated in tax brackets, depending on the property price.

The Welsh Government introduced a temporary increase in the nil rate band for Land Transaction Tax (LTT), raising the minimum threshold to £250,000. This change takes effect from the 27th July 2020 up to and including the 31st March 2021. Rates for the Additional Dwelling Supplement (ADS) and non-residential LBTT remain unchanged.


Standard LTT Rates for residential properties: 15th July 2020 - 31st March 2021 

Purchase price  LBTT Rate
Up to £250,000 0%
£250,001 to £400,000 5%
£400,001 to £750,000 7.5%
£750,001 to £1,500,000 10%
£1,500,000+ 12%


Standard LBTT Rates for residential properties: (excluding the period of 15th July 2020 - 31st March 2021) 

Purchase price  LBTT Rate
Up to £180,000 0%
£180,001 to £250,000 3.5%
£250,001 to £400,000 5%
£400,001 to £750,000 7.5%
£750,001 to £1,500,000 10%
£1,500,000+ 12%

Rates for the Higher rate LTT remains unchanged.

3% Higher rate LTT on Buy to Let and Second Home Purchases 

Similarly to England, Northern Ireland and Scotland, Wales has a higher residential tax rate for second homes and buy to let properties. The Higher Residential rate is 3% in addition to the LTT rate, for purchasing second homes and buy to let properties worth £40,000 or more.

Higher LBTT Rates for residential properties: 

Purchase price  LBTT Rate
Up to £180,000 3%
£180,001 to £250,000 6.5%
£250,001 to £400,000 8%
£400,001 to £750,000 10.5%
£750,001 to £1,500,000 13%
£1,500,000+ 15%
ANY PROPERTY USED AS SECURITY, WHICH MAY INCLUDE YOUR HOME, MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

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

Get in contact with us: 0345 345 6788 or ...

Submit an enquiry
Arrange a call back