Stamp Duty Calculator
What is stamp duty?
How much is stamp duty?
The amount of stamp duty tax you will need to pay depends on a wide range of factors, including how much you pay for the property, the location of the property, whether you’re a UK resident, and whether you’re a first-time buyer. It also depends on whether you’re buying a main home, a holiday home or an investment property.
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Do first-time buyers pay stamp duty?
Yes, but at a lower rate than other buyers. If you’re a first-time buyer in England and Northern Ireland, and anyone else you’re buying with are first-time buyers, you won’t pay any stamp duty tax on a home priced at or below £425,000.
For a home priced above £425,000, you will pay 5% on the amount you spend between £425,001 and £625,000.
If the home you’re buying is priced above £625,000, you won’t qualify for first-time buyers’ relief. That means the standard rates of stamp duty, from £250,001 and above, will be payable.
How much stamp duty is payable in England and Northern Ireland?
You won’t pay any stamp duty on a residential property, or the portion of a property, priced at or below £250,000.
From 23rd September 2022, stamp duty is payable at the following rates:
|Stamp duty tax band||Normal rate||Buying an additional property|
|Up to £125,000||0%||3%*|
|£125,001 to £250,000||0%||3%|
|£250,001 to £925,000||5%||8%|
|£925,001 to £1.5 million||10%||13%|
|Over £1.5 million||12%||15%|
Remember, if you’re a first-time buyer, you won’t pay stamp duty tax on a property priced at or below £425,000.
If you’re buying a home priced at or below £625,000, you’ll pay 5% on the amount you spend between £425,001 and £625,000. For a home priced over £625,000, the standard rates of stamp duty will be payable as you won’t qualify for first-time buyers' relief.
* When purchasing an additional property, the stamp duty rate of 3% will be payable for properties priced between £40,001 and £125,000. You usually pay an extra 3% on top of the normal stamp duty rates if you’re buying a holiday home or a second home.
For more details on all residential property stamp duty rates, visit gov.uk.
Stamp duty for non-residents
If you’re a non-UK resident buying a residential property in England or Northern Ireland, you’ll pay an additional 2% on top of the existing stamp duty rates for properties costing more than £40,000. This was introduced from 1st April 2021. You can find more information here.
When do you pay stamp duty and how is it paid?
Stamp duty tax is payable within two weeks of completing your sale. Your solicitor should handle the paperwork for you. If you would prefer to do it yourself, the Government guidance on how to go about it is here.
How much is stamp duty on second homes?
You usually pay an extra 3% on top of the normal stamp duty rates if you’re buying a holiday home or a second home.
How much is buy-to-let stamp duty?
Buyers investing in a rental property pay the same rate of stamp duty as those buying holiday homes, which is a 3% surcharge.
How much is new-build stamp duty?
You pay the same amount of stamp duty whether the home you’re buying is brand new or a resale property.
How much is shared-ownership stamp duty?
If you’re buying a portion of a property through a shared-ownership scheme, you only need to pay stamp duty on the part of the property you will own, and not on the part that you will be renting.
If you intend to increase your share in the property in the future, you can choose to either make a one-off stamp duty payment based on the market value of the property, or pay stamp duty in stages as you acquire a bigger share. You should discuss the options with your housing association or lender. More detailed information can be found here.
Can I reduce stamp duty?
Before you make an offer, check what the nil-rate stamp duty threshold is and see if the purchase price falls within that. If you’re a first-time buyer, reduced stamp duty rates may apply, depending on the purchase price.
Are there any stamp duty exemptions?
If you buy a second home, and then sell your main home within three years and move into it full time, you may be able to reclaim the 3% surcharge you paid.
If you’re self-building, you don’t need to pay stamp duty. Zero-carbon homes which cost less than £500,000 are also exempt.
Can I add stamp duty to my mortgage?
Yes, you can, if the maximum amount you can borrow covers both the portion of the property you’re buying with a mortgage, as well as the amount of stamp duty you will need to pay.
How long does it take for mortgages to be approved?
This varies, depending on how long it takes for a lender to carry out affordability and credit checks. If you’re ready to buy, but you haven’t got a mortgage agreed in principle yet, you’ll save valuable time by starting the process as soon as possible. You can use our Mortgage in Principle service and get a result in 20 minutes.