Stamp Duty Calculator

If you’re a first-time buyer, you don’t have to pay stamp duty at all if you pay less than £300,000 for your home. And, if you buy a property for between £300,001 and £500,000, you don't have to pay stamp duty on the first £300,000 – just 5% on the amount over that.

To help first-time buyers in London, and other areas where property prices are high, extra stamp duty relief is available for properties up to £500,000. If you’re buying your first home for more than £500,000, however, you won’t qualify for reduced stamp duty rates.

If you’re a first-time buyer buying a shared ownership property valued at up to £500,000, you won’t need to pay any stamp duty. But if the property is worth more than that you’ll have to pay standard stamp duty rates – even if the portion of your home that you own is worth less than £500,000.

To qualify as a first-time buyer and get stamp duty tax relief, you must never have owned or had an interest in a residential property anywhere in the world. This means you must not have bought, inherited or received as a gift either a full property or shares in one. So if, for example, you inherited your grandad’s villa in France with your brother and sold it straightaway, you still wouldn’t be considered a first-time buyer. You’re also not seen as a first-time buyer if you intend to let out the first property you buy.

If you’re buying a second home, a holiday home or a buy-to-let property, you have to pay an extra 3% on each tier of stamp duty.

The only exceptions are if you’re a first-time buyer or you’re buying a property for £40,000 or less – in which case the standard stamp duty rates apply. This higher stamp duty rate also only applies to additional residential property and not to land or commercial property.