Stamp Duty Calculator

What is Stamp Duty?

Stamp Duty Land Tax (SDLT) must be paid if you buy a property or land over a certain price in England and Northern Ireland. Stamp Duty Land Tax or SDLT is basically a tax payable on properties by the buyer, there are incentives available to First Time Buyers. There are different levels of stamp duty tax bands with rates steadily increasing from lower to higher bands.

New Stamp Duty Rates

Please see the newly announced freehold residential stamp duty rates in England and Northern Ireland below:

First Time Buyer

• Less than £500k – Rate 0%

• £500k to £925k – Rate 5%

• £925k to £1.5m – Rate 10%

• over £1.5m – Rate 12%

Additional Property:

• Less than £500k – Rate 3%

• £500k to £925k – Rate 8%

• £925k to £1.5m – Rate 13%

• over £1.5m – Rate 15%

Buy To Let & Second Homes

For next time buyer and buy to let properties the rate of stamp duty is clearly higher, to get a feel for the amount that would be payable by you, please use our friendly calculator below, if you have any questions, please drop us a message and one of our advisers will be in touch.

If for example you are selling your existing property know as your Principle Primary Residence and buying another primary residence, you may have other investment properties, such as buy to lets in the background, you will only be liable for the single property rate of SDLT, not the second property rate.

There are also the instances where if you own property anywhere worldwide, then you must declare this to the solicitor who will calculate the SDLT liability at the additional property rates, or if you are married and your partner owns a property then you are considered as having an interest so again this will trigger the additional property rates and needs to be declared on the SDLT return submitted to HMRC.

In reality the reduced time frame should not have a significant impact on individuals. This is because most SDLT returns will be submitted by a solicitor or conveyancer acting on behalf of their client.