Stamp duty calculator

How much you pay depends on the price of the property, where it is and when you complete. There are discounts for first time buyers.

Your home may be repossessed if you do not keep up repayments on your mortgage.

Our stamp duty calculation is for guidance only. Tax rules can change and people's circumstances are different.

Stamp duty to pay

£0

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If you're ready to get a mortgage, the next step is to answer a few more questions. Then a Trussle adviser will find our best mortgage deal for you.

Your home may be repossessed if you do not keep up repayments on your mortgage.

Our stamp duty calculation is for guidance only. Tax rules can change and people's circumstances are different.

Stamp duty cut 2022

On 23 September 2022, the government announced that the threshold for paying stamp duty would be raised from £125,000 to £250,000.

For first-time buyers, this will increase from £300,000 to £425,000; meaning that first-time buyers do not have to pay stamp duty if their home costs less than £425,000.

This change will mean that around 200,000 homebuyers will not need to pay stamp duty. ¹

These stamp duty cuts will remain in place until 2025. This was announced in the Autumn Statement issued by Jeremy Hunt in November 2022.

What is stamp duty

Stamp Duty Land Tax (SDLT) is a tax in England and Northern Ireland. It usually applies to residential properties, or pieces of land, that cost more than £250,000.

Scotland and Wales have their own taxes that are equal to stamp duty.

You'll pay:

  • Land and Buildings Transaction Tax (LBTT) in Scotland

  • Land Transaction Tax (LTT) in Wales

Who has to pay stamp duty

Most buyers have to pay stamp duty. Aside from your mortgage, stamp duty could be the biggest cost of buying a home.

You have to pay your stamp duty within 14 days of your move in date. If it’s not paid by then, you could risk a fine, or having interest added to the amount due.

Often your solicitor deals with your stamp duty payment. 

It can help to know what stamp duty is, how it’s calculated, and when it’s due.

You pay stamp duty as a lump sum on new properties, second homes, freehold and leasehold properties. It does not matter if you buy the home with a mortgage or with cash.

You do not need to pay stamp duty land tax if you're:

  • buying a property valued below the stamp duty threshold

  • transferring the deeds of your home to someone

  • a first time buyer in England or Northern Ireland if you're buying a property that costs less than £425,000

To use our stamp duty calculator you need to provide these details:

  • where you're buying (England & Northern Ireland, Wales or Scotland)

  • if it's your first home, next home, and if you'll own multiple properties

  • the value of the property you're buying

Our stamp duty calculator will then calculate the total Stamp Duty Land Tax, Land and Buildings Transaction Tax or Land Transaction Tax that you'll need to pay.

If you're a first time buyer in England & Northern Ireland, our calculator will take that into account.

Your mortgage adviser can give you general information on the rates you need to pay. Mortgage advisers are not qualified to give tax advice.

If you need advice on tax, then speak to an independent tax and legal specialist.

Stamp duty for different property types

Calculating stamp duty on second homes is different.

For second homes, you'll have to pay an extra 3% on the standard stamp duty rates. This is for properties over £40,000 but does not include mobile homes, houseboats, and caravans.

If you’re buying a new home and selling your old one, you’ll only need to pay the standard stamp duty rates.

If you do not sell your main property when you complete your new home, you'll have to pay the higher rates. This is because you'll own two properties.

You can get a refund once you’ve sold your original home as long as it’s within 36 months of when you first bought it.

Stamp duty applies on both leasehold and freehold properties. It is dealt with exactly the same way on either property.

Calculating stamp duty on land and non-residential property is also different. This includes mixed-use land and property.

You’ll pay land tax on transactions over £150,000.

This is currently 2% of the property value from £150,000 to £250,000 and 5% on the value above £250,000.

If you’re a first-time buyer of a shared ownership home, you do not have to pay stamp duty on the first £425,000 of a home worth up to £625,000.

This means all first-time buyers with a first home worth up to £425,000 are now exempt from stamp duty.

Buying a buy to let or second property

Buying a leasehold property

Buying a commercial property

Joint ownership and stamp duty relief

Calculating stamp duty on second homes is different.

For second homes, you'll have to pay an extra 3% on the standard stamp duty rates. This is for properties over £40,000 but does not include mobile homes, houseboats, and caravans.

If you’re buying a new home and selling your old one, you’ll only need to pay the standard stamp duty rates.

If you do not sell your main property when you complete your new home, you'll have to pay the higher rates. This is because you'll own two properties.

You can get a refund once you’ve sold your original home as long as it’s within 36 months of when you first bought it.

How much is stamp duty in 2022?

The standard rate bands for stamp duty are as follows*:

0% stamp duty on first £0 - £250,000 of property value

5% stamp duty on next £675,000 of property value (£250,001 to £925,000)

10% stamp duty on next £575,000 of property value (£925,001 to £1.5 million)

12% stamp duty on remaining amount (above £1.5 million of property value

*Figures accurate as of September 2022

The stamp duty rate you’ll pay is not confined to just one of these bands. Each band applies to the equivalent portion of the property price.

For example, if you buy a house for £850,000, the stamp duty you’ll pay will be £30,000. This is because you would pay nothing on the first £250,000, and then 5% on the remaining £600,000.

It can be a bit complicated, especially on more expensive properties, so a stamp duty calculator can be useful.

If you’re a first-time buyer, you won't pay stamp duty on the first £425,000 of your property's value.

This means that if your property costs less than £425,000, you will not have to pay any stamp duty.

If your property costs between £425,001 and £625,000, you’ll have to pay a rate of 5% for the remaining part.

0% stamp duty on first £0 - £425,000 of property value

5% stamp duty on next £200,000 of property value (£425,001 to £625,000)

Normal stamp duty rates on anything over £625,000

The stamp duty holiday in Scotland ended on 31 March 2021.

Stamp duty in Scotland is called land and buildings transaction tax (LBTT).

To buy a single property you do not have to pay any tax on the first £145,000.

The following rates apply over the first £145,000:

  • 2% on the value of the property between £145,000 and £250,000

  • 5% on the part between £250,000 and £325,000

  • 10% on the part from £325,000 to £750,000

  • 12% on any value over £750,000

First time buyers in Scotland do not pay stamp duty on the first £175,000. 

Stamp duty holiday

LTT is usually exempt on the first £180,000 of the property.

The following rates apply over £180,000:

  • 3.5% between £180,000 and £250,000

  • 5% on the part between £250,000 and £400,000

  • 7.5% on the part between £400,000 and £750,000

  • 10% within the next band up to £1.5 million

  • 12% over £1.5 million

There’s not currently any relief for first-time buyers in Wales. The higher tax-free threshold of £180,000 should make most first-time buys tax-free. (3)

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Sources

¹ BBC News | Stamp duty cut in bid to help house buyers