Stamp Duty
Stamp Duty Land Tax is the tax that the government charges when you purchase a property over £200,000. You pay different rates depending on the value of your property and the amount of your mortgage (if any).
You can find out how much you stamp duty tax is by using our stamp duty calculator.
The stamp duty thresholds and applicable tax rates that are currently in effect are as follows:
First/Second-Time Buyers
£300,001 - £350,000
5.5% (on the amount above £300,000 but does not exceed £350,000)
£350,001 - £800,000
3.5% (on the amount above £350,000 but does not exceed £800,000)
Above £800,000
4.5% (on the amount that exceeds £800,000)
Other Buyers
Where the purchaser is a non first or second time buyer, or the property is a non residential:
Property Price
Other Buyers
Up to £200,000
0% (if under £200,000)
Value exceeds £200,000 but does not exceed £350,000
2% on first £250,000, then 5.5% thereafter
Value exceeds £350,000
3% on the first £350,000, 3.5% between £350,000 and £800,000 and 4.5% on the value above £800,000
No stamp duty is payable by first and second time buyers (excluding corporate entities) on the first £300,000 of the purchase cost.
Whilst every effort is taken to ensure that these results accurately reflect current legislation, we cannot guarantee that the amount stated above is the amount you will have to pay. Please seek your own independent professional advice.
