Stamp Duty Calculator: How Much Is Stamp Duty?
When you buy a home, the experience comes with additional costs. One of them being stamp duty – or Stamp Duty Land Tax (SDLT) in official terms.
Stamp Duty Calculator
Let's calculate how much you might need to pay when buying a new property.
Location of property
Property value
Your Guide to Stamp Duty and Land Tax Across the UK
You’ve found the perfect property for sale, narrowed down the right mortgage deal, and now you’re ready to buy. It’s an exciting time! And naturally, when you buy a home, the experience comes with paying additional costs. One of them being stamp duty – or Stamp Duty Land Tax (SDLT) in official terms.
What is stamp duty? This is the tax that buyers need to pay to HM Revenue and Customs (HMRC) on the purchase of a property. And rarely can you escape it: the tax applies to both freehold and leasehold properties, and whether you’re buying the property with a mortgage deal or cash. Stamp duty is a tax where the rates vary depending on whether you’re a first-time buyer and the purchase price of the property.
The good news is that you no longer have to calculate the percentages in your head. Simply use the stamp duty calculator above to work out the rate you’d pay on your next purchase.
Stamp duty in England and Northern Ireland
Stamp duty is calculated on a percentage of the home’s costs. Using a stamp duty calculator is the best way to find out how much stamp duty you’d owe. The current rates are:
How to calculate stamp duty
But what does a calculation of stamp duty actually look like? For example, what’s the stamp duty on a £400k home?
If you buy a property for £400,000 as your main residence, the stamp duty is:
0% on the first £250,000 and 5% on the remaining £150,000 (£5,000) so the total stamp duty you would pay is £7,500.
Who pays stamp duty?
Most home buyers have to pay stamp duty. Aside from your mortgage, stamp duty may well be the biggest cost of buying a home. Whether or not you need to pay this tax depends on the cost of the property and your buying status (first-time buyer or not).
You don’t have to pay stamp duty on a home under £250,000. This rises to £425,000 for first-time buyers.
First-time buyers stamp duty
Stamp duty on first-time buyers works a little differently. While not exempt from this tax, you pay less when buying a house for the first time.
First-time buyers don’t have to pay stamp duty on their first home costing £425,000 or less.
For homes priced between £425,001 and £625,000, they’ll have to pay 5% on the amount above £425,001.
You’ll qualify for the first-time buyer exemption if:
You are buying your first property
You’re buying a home that you’ll live in
You have never owned, or had an interest in, a residential property in the UK or oversees
Your property is below £425,000 (for no stamp duty fee at all)
Your property is not in Scotland and Wales (keep reading to see their different schemes)
Stamp duty for second home and buy-to-let properties
If you’re purchasing an ‘additional dwelling’ that isn’t your main residence, you’ll pay a surcharge on top of your ordinary stamp duty bill. In England and Northern Ireland, each stamp duty band is 3% higher for additional properties over £40,000, but this does not include mobile homes, houseboats and caravans.
If you do not sell your main property when buying another property, you’ll have to pay the higher stamp duty rates. This is because you’ll own two properties. You could be entitled to a stamp duty refund on your second home surcharge if you sell your main residence within 36 months of paying the additional 3%. You can do so on the gov.uk website.
For current homeowners, first start by knowing the value of your property. Book a free house valuation to get an accurate figure of how much it’s worth today.
Scotland Land and Buildings Transaction Tax
In Scotland, the stamp duty is called Land and Buildings Transaction Tax (LBTT). It involves residential and commercial land and buildings.
First-time buyers in Scotland are exempt from paying the LBTT tax on the first £175,000.
Land Transaction Tax in Wales
In Wales, land transaction tax is the equivalent of stamp duty. The Welsh rates are:
Currently, there is no relief for first-time buyers in Wales. However, if the property is £180,000 or less you won’t have to pay stamp duty tax.
Want help selling your home?
From securing the right estate agent to sell your home to searching for the right property for sale, we aim to make your home buying and selling journey an enjoyable one. Our Local Property Experts know their patch inside and out, and are always on hand to help you sell your home.
If you’re beyond the point of ‘kicking the tyres’ and are ready to get started, book a free house valuation or instruct Purplebricks to sell your home. We charge a fair, fixed fee so you know exactly what you’ll pay from the start.
Learn more
To better equip yourself for the buying experience, take a look at our guides for buyers.
Want to get the right mortgage deal? Whether you're a first time buyer, remortgaging, moving house or investing in a buy-to-let property, we’ll help you find a mortgage to suit your needs.