Stamp Duty Calculator
Stamp Duty Land Tax (SDLT) is a tax that you pay when buying a property or land in England, Wales, and Northern Ireland. The amount you pay depends on a few factors, including the price of the property, when you buy it, and whether you're eligible for any exemptions or reliefs.
SDLT Rates (as of 2024)
The rates are tiered, which means you only pay the higher rate on the portion of the property price that falls into each band. The rates for residential properties are as follows:
- Up to £250,000 – 0% (no tax)
- £250,001 to £925,000 – 5%
- £925,001 to £1.5 million – 10%
- Above £1.5 million – 12%
Additional Charge
- First-time Buyers: If you’re a first-time buyer, you can benefit from SDLT relief. As of 2024, first-time buyers pay no SDLT on properties costing up to £425,000. For properties between £425,000 and £625,000, you pay SDLT at 5%.
- Additional Properties: If you’re buying an additional property (e.g., a second home), you may have to pay an additional 3% on top of the usual SDLT rates. This applies if the purchase price is over £40,000.
- Reliefs and Exemptions: Various other exemptions and reliefs exist. For example, there are reduced rates or no SDLT payable for properties in certain areas, for property swaps, or for certain charities and companies.
How SDLT Works
SDLT is calculated on the purchase price of the property, but the amount paid is tiered. For example, if you buy a property for £1 million, the SDLT would be calculated like this:
- Up to £250,000: 0% = £0
- £250,001 to £925,000: 5% = £33,750
- £925,001 to £1 million: 10% = £7,500
So the total SDLT payable would be £41,250.
Using the SDLT Calculator
The most accurate way to calculate how much SDLT you’ll need to pay is to use the SDLT calculator provided by the UK government. This will take into account the specific details of your purchase, including:
- The price of the property
- Whether you are a first-time buyer
- Whether you are buying an additional property
- Any other exemptions or reliefs you may qualify for use our calculator below
Click the to open Stamp Duty Calculator