Stamp Duty

Calculate property stamp duty

When is Stamp Duty paid?

When buying a property over a certain price, stamp duty is payable to the HMRC 14 days from the date of completion, or a fine may be imposed. Your solicitor or legal adviser should take care of this for you and ensure you don’t miss the deadline. Some buyers prefer to add on the SDLT amount to their mortgage loan. You should speak to your mortgage provider to ascertain whether this is an option.

Stamp Duty Land Tax (SDLT) is a progressive tax paid when purchasing a freehold, leasehold or shared ownership residential property over £250,000 in England, Northern Ireland and Wales (separate Land and Buildings Transaction Tax in Scotland).

The threshold is £425,000 for first-time buyers.

The SDLT rates continue to be applied on a sliding system based on thresholds and dependent on a property’s price. Different SDLT rates and thresholds apply to non-residential property or mixed-use land.

The SDLT rates are payable only on the PORTION of a property price, which falls within each band as follows:

• £0.00 – £250,000 – 0%
• £250,001 – £925,000 – 5%
• £925,001 – £1,500,000 – 10%
• £1,500,001 above – 12%

Individuals who purchase a second or additional properties, will pay an additional 5% SDLT on top of the above rates.

The single rate of SDLT charged when firms buy dwellings worth more than £500,000 is 17%.

Stamp Duty Calculator