How much Stamp Duty do I have to pay? – Use our Instant Stamp Duty Calculator to find out how much you have to pay in England and Northern Ireland.
If you live in England or Northern Ireland, you can use our stamp duty calculator to figure out how much stamp duty you may have to pay.
What is stamp duty?
Stamp Duty Land Tax, also known as SDLT is a text which is paid on the purchase of any property in England and Northern Ireland. Depending on the rate of the property, the rate can vary. Stamp duty rates vary from low to high. This is usually in accordance with the different bands, which are defined by the value of the property that is being purchased.
When do you have to pay stamp duty by?
Since 2019, the period for submitting a stamp duty return has been reduced from 30 days to 14 days. So as of then, stamp duty is now required to be paid within 14 days after completing on a property purchase.
What are the stamp duty rates? (Accurate as of 1st October 2021)
|
Tax Band |
Normal Rate |
Additional Property |
|
less than £125k |
0% |
3%* |
|
£125k to £250k |
2% |
5% |
|
£250k to £925k |
5% |
8% |
|
£925k to £1.5m |
10% |
13% |
|
rest over £1.5m |
12% |
15% |
|
* An additional property purchased for less than £40k will attract 0% tax. For purchases from £40k to £125k the SDLT rate will be 3% on full purchase price. |
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Stamp Duty Holiday
During July 2020, as an economic response to the pandemic, there was a stamp duty holiday that was introduced. The stamp duty holiday period introduced a zero-rate on standard purchases increasing from £125,000 to £500,000 which meant a lot of the home movers or first-time buyers were not required to pay any stamp duty land tax.
Stamp Duty (SDLT) for First-time Buyers
As of 1st July 2021, the first-time buyer relief was reintroduced. This means anyone purchasing a property for the first time, they will not pay any stamp duty tax on property purchases below £300,000. There is also a further relief available for transactions on properties worth up to £500,000.
Stamp Duty for Buy to Let & Second Homes
If someone is looking at purchasing an additional property, then the stamp duty rate is increased in comparison to what a first-time buyer would pay. The higher rates only apply when there is an additional property being bought.
Stamp duty when replacing your main residence/main home
If you are looking to move home, then the higher rate of stamp duty does not usually apply. If a previous home however is not sold immediately, then the stamp duty can be calculated at the higher rate. However, it is then possible to claim the refund later within a 12-month period (after selling the previous home), as long as the old home is sold within 3 years of purchasing the new one.
Stamp Duty for non-UK Residents or International Buyers
Someone living overseas looking to purchase a property in England or Northern Ireland, will pay an additional 2% in stamp duty. Someone buying an additional property in the highest bracket, the highest stamp duty will mean a 17% SDLT.
Someone who is not in the UK for at least 183 days in the 12-month period, including British expats based overseas, will have a non-UK resident status will be subject to the surcharge. The rates of stamp duty and land tax for non-UK residents was introduced in April 2021 with homes to control the house price inflation and to control foreign investment, to give UK residents a chance to get on the property ladder.
