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Stamp duty

Stamp duty rates

By Marie Kemplay

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Stamp duty rates

Stamp duty rates depend on the value of your home. Find out current stamp duty rates in England and Wales in this guide.

When you buy a house or flat that's going to be your main home (rather than a holiday home or buy-to-let), you will pay stamp duty on everything above £125,000. If it's a buy-to-let or second home, you pay stamp duty on any property costing more than £40,000.

Stamp duty is tiered, meaning that you pay different rates on different portions of the property price. Current stamp duty rates for first homes are set out in the graphic below. You can scroll down to see an example of how the tier system works and to find out how stamp duty works for buy-to-let and second home buyers.

If you're concerned about what stamp duty means for you, it's worth speaking to a mortgage adviser.

  • Which? Mortgage Advisers looks at thousands of mortgages to find the best deal for your personal circumstances. The advisers are also able to explain how stamp duty works and how it will affect you. Call 0808 252 7987 for a free initial consultation.
  • If you're moving house soon and want a no-obligation, fixed-price conveyancing quote, check out our new service, Which? Conveyancing

Stamp duty rates

The amount of stamp duty you pay when you buy a property is set in tiers. This means you'll pay a different stamp duty rate on different portions of the property value. 

When you buy a property you're planning to live in, you won't pay any stamp duty on the first £125,000. You'll then pay 2% on the portion up to £250,000 and 5% on the portion up to £925,000. Between that point and £1.5m, it's 10% - then 12% on anything over £1.5m.

05 Stamp duty-01

Take a look at this example to see how it works:

  • Property price: £275,000
  • Portion 1: £0 - £125,000 - 0% tax, so total paid for this chunk of the purchase price = £125,000
  • Portion 2: £125,000.01 - £250,000 - 2% tax (£2,500) + £125,000 = £127,500
  • Portion 3: £250,000.01 - £275,000 - 5% tax (£1,250) + £25,000 = £26,250
  • Total paid: £278,750 (£3,750 of which is stamp duty)

Find out more: to find out exactly how much stamp duty you'll pay on the property you're buying, use our stamp duty calculator

Buy-to-let stamp duty rates

Anyone buying a second home or buy-to-let property - ie any property that won't be your primary residence - now has to pay an extra 3% on each tier of stamp duty. Find out exactly how much you'll have to pay using our buy-to-let stamp duty calculator.

Stamp duty rates elsewhere in the UK

Northern Ireland uses the same tiered stamp duty system as England.

When buying a property in Scotland, you'll pay Land and Buildings Transaction Tax (LBTT) instead of stamp duty. To find out how much you'll need to pay, check out our full guide to LBTT.

Stamp duty in Wales is currently charged at the same rates as in England, but this might change in April 2018. The Welsh government plans to establish a land transaction tax to replace stamp duty, although specific details are unlikely to be announced before Autumn 2017. 

  • Last updated: January 2017
  • Updated by: Stephen Maunder




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