Stamp Duty Calculator

What is stamp duty?

Stamp Duty Land Tax (SDLT) is a tax levied on the purchase of property in England.

SDLT is charged at different rates depending on the purchase price of a property. There are a number of stamp duty tax bands with rates rising from lower to higher bands.

Since December 2014 stamp duty has become a progressive tax with rate increases applied between specific stamp duty thresholds instead of being applied to the final purchase price of a property.

Further changes were made to the new stamp duty system in November 2017 when the government introduced first time buyer relief.

A stamp duty holiday was introduced on 8th July 2020 and is set to expire on 30th June 2021.

When do you pay stamp duty?

Stamp duty now needs to be paid within 14 days after completing the purchase of a property worth more than £40,000.00.

What are the stamp duty rates?

The residential stamp duty rates in England are shown in the tables below. The table below shows current stamp duty rates valid until 30th June 2021.

Tax BandNormal RateAdditional Property
less than £500k0%3%
£500k to £925k5%8%
£925k to £1.5m10%13%
rest over £1.5m12%15%

The table below shows stamp duty rates during the stamp duty holiday transition period from 1st July until 30th September.

Tax BandNormal RateAdditional Property
less than £250k0%3%*
£250k to £925k5%8%
£925k to £1.5m10%13%
rest over £1.5m12%15%

The table below shows stamp duty rates from 1st October 2021 when thresholds reflect rates before the stamp duty holiday.

Tax BandNormal RateAdditional Property
less than £125k0%3%
£125k to £250k2%5%
£250k to £925k5%8%
£925k to £1.5m10%13%
rest over £1.5m12%15%

Stamp duty holiday

Following the announcement by the Chancellor in the spring 2021 Budget, the stamp duty holiday has now been extended until 30th June 2021. During this time the threshold for the payment of Stamp Duty has risen to £500,000 meaning the majority of residential transactions will not attract any Tax as long as the purchase completes before 1st July 2021.

Transactions involving additional property, including second homes and buy to let investments, will continue to attract a 3% surcharge.

How much will you pay when the stamp duty holiday ends?

When the stamp duty holiday ends on 30th June 2021 the threshold for payment of Stamp Duty is set to reduce from £500,000 to a new temporary threshold of £250,000.

The new temporary £250,000 threshold will remain in place until 30th September.

First time buyers

From 1st July 2021 first time buyer relief is set to be reinstated. This means first time buyers will not pay any stamp duty on property purchases below £300,000 with further relief available for transactions up to £500,000.

Buy to let & second homes

Stamp duty rates have increased for anyone purchasing an additional property. Additional property types include buy to let investments and second homes. From April 2016 a 3% surcharge has been applied on top of the normal SDLT rate.

Replacing a main residence

The higher rates of stamp duty should not apply when moving home. Normal rates of stamp duty will apply for anyone replacing a main residence even if they own two properties in the short term. Replacing a main residence will almost always involve selling your current home, ending a current tenancy does not count as replacing a main residence.

If a previous home is not sold immediately, stamp duty will be calculated at the higher rate and a refund may be claimed later.

A stamp duty refund can be claimed up to 12 months after selling a previous home as long as the old home is sold within 3 years of purchasing the new one. The 3 year time limit may be extended if the sale of the old home is delayed because of exceptional circumstances.

Stamp duty for non-UK residents

From April 2021 someone living overseas could pay an additional 2 percent in stamp duty if they purchase a property in England.

Someone who is not present in the UK for at least 183 days in the 12 month period leading up to buying a property will have non-UK resident status.

Stamp duty in Wales

From April 2018 Land Transaction Tax (LTT) has replaced stamp duty in Wales with new LTT rates being introduced from April 2018.

For additional dwelling transactions a further 1% LTT surcharge has been applied to all LTT bands from 22nd December 2020.

The new LTT rates in Wales are shown in the tables below:

Tax BandLTT Rate
less than £250k0%
£250k to £400k5%
£400k to £750k7.5%
£750k to £1.5m10%
rest over £1.5m12%

Additional Property LTT rates in Wales are shown in the tables below:

Tax BandLTT Rate
less than £180k4%
£180k to £250k7.5%
£250k to £400k9%
£400k to £750k11.5%
£750k to £1.5m14%
rest over £1.5m16%

Stamp Duty Calculator

If you want advice on your situation then please call us for a free, no obligation discussion: 0330 2233 917

Limitations of this calculator

This calculator can provide you with an indication of the stamp duty tax applicable to you. However, Encore Legal are not providing you with advice on whether you should or should not purchase a property.

Assumptions

This calculator is based on the following assumptions about your circumstances:

  • The purchase is being made by an individual(s), not by an organisation.
  • If the property is Leasehold, the lease is not a new lease, or that the rent payable on the lease is not unusually high (e.g. not above £4,500 a year for a new 99 year lease).
  • The property you are buying is in England.
  • You are not purchasing non-residential property or land.
  • None of the purchasers are non-UK resident (you are treated as non-UK resident for Stamp Duty if you are not present in the UK for 183 days or more in the 12 months before the completion date of the purchase.

If this isn’t the case, please contact us for guidance more specific to your situation. You can also go direct to www.gov.uk/stamp-duty-land-tax for guidance on the tax rate from the Government calculator.

Still got questions?