Stamp Duty Calculator


How much could I save with the Stamp Duty holiday?

With no Stamp Duty paid on all homes up to £500,000 you could save up to £15,000.

Example property
price
How much
will I save
£300,000 £5,000
£400,000 £10,000
£500,000 £15,000


How much stamp duty will I need to pay?

The amount of stamp duty you pay depends on your circumstance, and on the price of the property.

On July 9th 2020, the Chancellor announced a Stamp Duty holiday for all homes up to £500,000. Any homes above this only pay Stamp Duty on the potion of the property price above £500,000.

Purchase
price
of property
Stamp
duty
rate
Up to £500,000 0%
£500,001 to £925,000 5%
£925,001 to £1.5 million 10%
The portion above £1.5 million 12%

What are the stamp duty rates on second homes and buy-to-let properties?

If you’re buying a second home or purchasing a property specifically to rent it out, then you will need to pay a higher rate of stamp duty.

An additional rate of 3% is applicable to each tier of the regular stamp duty tax bands, however the total stamp duty cost is calculated in the same way.

Purchase
price
of property
Std
Rate
Buy-to-let
2nd home
rate
Up to £500,000 0% 3%
£500,001 to £925,000 5% 8%
£925,001 to £1.5 million 10% 13%
The portion above £1.5 million 12% 15%

How is stamp duty calculated?

There is no tax payable on the first £500,000 of a property. The rate of stamp duty on properties over this is calculated by applying the specific stamp duty rates to the remaining price of the property. Each price band is subject to a different tax rate percentage, so to work out the total stamp duty payable, you will need to add the proportions from each percentage band.

The example below shows how the total stamp duty is calculated on a property valued at £600,000:

£0 - £500,000 0%
£500,001 - £600,000 5%

Stamp Duty Due: £5,000


How do I pay my stamp duty?

Stamp duty must be paid within 30 days of completion. Your solicitor or conveyancer will normally pay the stamp duty on your behalf, however you can complete a Stamp Duty Land Tax form and pay HMRC directly if you choose.


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Note:This Stamp Duty calculator should be used for indicative purposes only. Please check with your conveyancer for exact amount relating to your property purchase