Stamp duty calculator 2020
Enter the price, location and purpose of the property you're buying and our stamp duty calculator will tell you how much tax you'll have to pay on it.
What is stamp duty?
Stamp duty is a tax that you have to pay when buying property in England or Northern Ireland.
- Buying elsewhere in the UK? Check out our guides on Scottish stamp duty (LBTT) and Welsh stamp duty (LTT).
Stamp duty is tiered, meaning that you pay different rates on different portions of the property price.
You'll also pay different rates depending on whether you're a first-time buyer, home mover or buying a buy-to-let, second or holiday home.
Video: how stamp duty works
Home mover stamp duty rates
When you buy a property you're planning to live in (and you've owned a property before), you'll pay the following rates on each portion of the property price:
- £0-£125,000: 0%
- £125,001-£250,000: 2%
- £250,001-£925,000: 5%
- £925,001-£1.5m: 10%
- Over £1.5m: 12%
Take a look at this example to see how it works:
- Property price: £275,000
- Portion 1 (£0-£125,000): 0% tax, so total stamp duty paid for this portion of the purchase price = £0
- Portion 2 (£125,000.01-£250,000): 2% tax, so stamp duty for this portion = £2,500
- Portion 3 (£250,000.01-£275,000): 5% tax, so stamp duty for this portion = £1,250
- Total paid: £278,750 (£3,750 of which is stamp duty)
Stamp duty surcharge for overseas buyers
From 1 April 2021, overseas-based buyers of residential property in England and Northern Ireland will need to pay an extra 2% on top of the standard stamp duty rates, under measures announced in the 2020 Budget.
First-time buyer stamp duty rates
Since November 2017, people buying their first home for less than £300,000 haven't had to pay any stamp duty at all.
First-time buyers purchasing properties for between £301,000 and £500,000, meanwhile, don't have to pay stamp duty on the first £300,000. Stamp duty of 5% will be charged on the amount between that and £500,000.
First-timers buying homes for more than £500,000 will have to pay stamp duty at the standard home mover rates.
These rules mean that first-time buyers could save up to £5,000 on their stamp duty bill. The table below explains how much you'll save based on the price of your property.
| Property price | Home mover stamp duty cost | First-time buyer stamp duty cost | Saving |
|---|---|---|---|
| £200,000 | £1,500 | £0 | £1,500 |
| £300,000 | £5,000 | £0 | £5,000 |
| £400,000 | £10,000 | £5,000 | £5,000 |
| £500,000 | £15,000 | £10,000 | £5,000 |
| £600,000 | £20,000 | £20,000 | £0 |
First-time buyer stamp duty FAQs
Can I use the first-time buyer stamp duty relief for buy-to-let?
The first-time buyer stamp duty exemption/discount only applies if you're planning to use the property as your main residence.
If you're buying a buy-to-let property as a first-time buyer you will be charged home mover stamp duty rates.
- Find out more: buy-to-let stamp duty
Who counts as a first-time buyer?
To qualify for the first-time buyer stamp duty relief, you must never have owned a residential property before.
Owning residential property means holding an interest in a dwelling, whether freehold or leasehold - so, even if you only own part of a property, or you've inherited a property, these things still count as 'holding an interest', and would mean you're not considered a first-time buyer.
Do I qualify for stamp duty relief if I don't currently own a home?
The criteria requires first-time buyers to have never owned residential property before.
If you've ever owned a property - even if you then sold it and are now renting - you won't qualify for the relief.
You also won't qualify if you own or have previously owned a buy-to-let property.
Do I qualify for stamp duty relief if I previously owned a home outside England or Northern Ireland?
If you've ever owned a residential property anywhere in the world, you won't be considered a first-time buyer.
Do I qualify for stamp duty relief if I inherited or was gifted a property?
Unfortunately not: the rules are based on whether you have owned, rather than bought, a property before.
Do I qualify if I previously owned a share or interest in a property?
Under the legislation, anyone who has ever owned an 'interest' in a residential property is excluded from the relief.
Shared ownership schemes, or buying with a family member or partner, would count within these criteria.
Will I get stamp duty relief if my partner owns a home?
If you're buying with another person, every single purchaser must be a first-time buyer. Otherwise, stamp duty will be payable on the property at the standard rates.
Buy-to-let stamp duty rates
Unless you're a first-time buyer or purchasing a property for £40,000 or less, anyone buying a second home, holiday home or buy-to-let property - i.e. any property that won't be your primary residence - has to pay an extra 3% on each tier of stamp duty.
First-time buyers purchasing buy-to-let property will be subject to standard home mover rates.
Buy-to-let stamp duty for overseas purchasers
From 1 April 2021, overseas-based buyers of property in England and Northern Ireland will need to pay an additional 2% stamp duty surcharge.
Those buying additional or buy-to-let properties will also need to pay the 3% buy-to-let stamp duty surcharge on top - meaning they face a bill of 5% more than the standard rates for UK home movers.
When and how do I pay stamp duty?
Property buyers in England and Northern Ireland have 14 days from the 'effective date' of the transaction (usually the date of completion) to pay their stamp duty bill. If you fail to do this on time, there's an automatic £100 fine.
In Scotland and Wales, buyers have 30 days to make the payment for the equivalent land taxes.
In terms of how you pay, usually your solicitor or conveyancer will handle the stamp duty return for you - but you are still responsible for making sure this is done on time.
You can also submit the stamp duty return yourself by completing a paper return.
If you don't need to pay stamp duty, you won't have to submit a return.
HMRC stamp duty transactions
Stamp duty in England and Northern Ireland is paid to HMRC. Each quarter, it releases Stamp Duty Land Tax statistics, which give an indication of how many transactions are taking place, and how much stamp duty is being paid.
In the 2017-18 tax year, there were 1,106,200 property transactions, with £9.276m paid in stamp duty.
Transactions in the last quarter of 2018 were 5% lower than the same time in 2017, but this is thought to be the effect of stamp duty in Wales being devolved in April 2018.
Since the introduction of first-time buyers' stamp duty relief, 241,300 transactions have been eligible, saving those purchasing their first homes an estimated £570m.
The number of residential property transactions above £40,000, and the amount that's been collected in stamp duty, can be seen in the graph below.
