Stamp Duty Calculator
The amount of stamp duty you’ll have to pay depends on a range of factors.
Use our simple calculator to work out how much you’ll owe, depending on the home you’re buying and your circumstances.
What is stamp duty?
Stamp duty land tax (SDLT) is a tax that you may need to pay when you buy a property in England or Northern Ireland. In Scotland there’s a similar tax called land and buildings transaction tax and in Wales it’s called transaction tax.
If you’re buying a residential property, the amount of stamp duty you owe depends on the price you pay for the property and if you’re completing a purchase:
- between 8 July 2020 and 30 September 2021
- to use as a main home or a second property
Stamp duty rates
Under the current system in England and Northern Ireland, stamp duty is tiered. This means you pay different rates of stamp duty on different portions of the overall purchase price.
Stamp duty holiday
On 8 July 2020, a stamp duty holiday was introduced temporarily increasing the stamp duty threshold to £500,000 for property sales in England and Northern Ireland. This was expected to end on 31 March 2021 but has been extended
*Properties under £40,000 are not subject to the additional stamp duty land tax (SDLT) rates
Figures referenced from https://www.gov.uk/stamp-duty-land-tax/residential-property-rates
Stamp duty holiday extension
With the 2021 Budget, the government extended the stamp duty holiday until 30 June 2021 and from then on, a tapered return to pre-coronavirus threshold rates until 30 September 2021.
First time buyers
First time buyers are allowed to spend more on their first homes before paying stamp duty:
- until 30 June 2021 up to £500,000
- 1 July 2021 - 30 September up to £300,000
- From 1 October when all other home buyers' stamp duty threshold decreases, first time buyers will still have up to £300,000
Second home buyers
Second home buyers will still have to pay the extra 3% of stamp duty they would have been charged under the previous rules.
How to benefit from the time-limited stamp duty holiday
To make sure you qualify for the reduced rates of stamp duty during the holiday period you need to have completed by 30 June.
If you exchange contracts on or before 30 June, but complete between 1 July and 30 September, you’ll pay stamp duty on the purchase price in excess of £250,001 of a property that is to be your main home. Stamp duty would not be payable however, if the transaction had also completed before 30 June 2021. From the 1 October normal stamp duty rates will go back to normal, i.e. before the holiday was introduced.
How much will I save?
As an example, if you buy your next property for £350,000 between 8 July 2020 and 30 June 2021 to be used as your main home, you will save this much on stamp duty:
Total stamp duty saved = £0 + £2,500 + £5,000 = £7,500
Use our stamp duty calculator to see how much stamp duty you'll need to pay.
Stamp Duty CalculatorIn Scotland and Wales?
In Scotland and Wales, the systems are slightly different. Instead of stamp duty, Scotland has Land and Buildings Transaction Tax. It’s a lump-sum tax that’s very similar to stamp duty but the tiers and additional property rates are different.
Land and Buildings Transaction Tax rate holiday
The LBTT holiday introduced by the government on 15 July 2020 comes to an end 31 March 2021 and the tax you will pay will go back to the normal rate, as before the coronavirus pandemic.
* Properties under £40,000 are not subject to the additional land and buildings transaction rates
Figures referenced from https://www.gov.scot/policies/taxes/land-and-buildings-transaction-tax/
First time buyers in Scotland
First time buyers are allowed to spend more on their first homes before paying stamp duty:
- until 31 March 2021 up to £250,000
- From 1 April 2021 up to £175,000
In Wales, it’s called Land Transaction Tax and again, is very similar to stamp duty but with different tiers and rates.
Land Transaction Tax rate holiday
The LTT holiday in Wales runs from 27 July 2020 until 30 June 2020. From 1 July 2021 the tax you will pay will go back to the normal rate, as before the holiday was introduced.
* Properties under £40,000 are not subject to the additional land transaction tax rates
Figures referenced from https://gov.wales/land-transaction-tax-rates-and-bands
First time buyers in Wales
First time buyers are allowed to spend more on their first homes before paying stamp duty:
- until 30 June 2021 up to £250,000
- From 1 July 2021 up to £180,000
Use our stamp duty calculator to see how much stamp duty you'll need to pay.
Stamp Duty Calculator