Stamp Duty is paid at different rates, depending on the purchase price. For example, someone subject to Stamp Duty buying a property for £245,000 would pay no tax on the value of the property up to £125,000 and 2% tax on the property value between £125,001 and £245,000. In this case, total liability for Stamp Duty would be £2,400 giving an effective tax rate of 1%.
Those subject to the additional rates of stamp duty rates will pay an extra 3% on top of the relevant standard rate band. In this example that would represent an extra £7,350, meaning the total stamp duty would be £9,750 giving an effective tax rate of 4%.
| Purchase price of property |
Rate of Stamp Duty
|
| £0 - £125,000 |
0% |
| £125,001 - £250,000 |
2% |
| £250,001 - £925,000 |
5% |
| £925,001 - £1,500,000 |
10% |
| Over £1.5 million |
12% |
* Properties under £40,000 are not subject to the additional SDLT rates
First-time buyers are entitled to relief for the first £300,000 of Stamp Duty on properties up to a value of £500,000.
For example, if you’re buying your first property for £350,000 you would pay:
- no Stamp Duty on the value of the property up to £300,000
- 5% tax on the value between £300,001 and £350,000.
In this case, the total amount of Stamp Duty would be £2,500, giving an effective rate of 0.7%.
For properties priced over £500,000, no relief is available and you would pay Stamp Duty on the full purchase price.
|
Purchase price of property
|
Rate of Stamp Duty
|
|
£0 - £300,000
|
0
%
|
|
£300,001 - £500,000
|
5
%
|
|
£500,000+
|
Standard rates apply (see below)
|
If you're buying your next home or buying a property valued at over £500,000 you would pay:
- no tax on the value of the property up to £125,000
- 2% tax on the property value between £125,001 and £250,000
- 5% tax on the property value between £250,001 and £550,000.
In this case, the total amount of Stamp Duty would be £17,500, giving an effective tax rate of 3.2%.
These rates currently apply to England, Wales and Northern Ireland
| Purchase price of property |
Rate of Stamp Duty
|
| £0 - £125,000 |
0% |
| £125,001 - £250,000 |
2% |
| £250,001 - £925,000 |
5% |
| £925,001 - £1,500,000 |
10% |
| Over £1.5 million |
12% |
* Properties under £40,000 are not subject to the additional SDLT rates
Stamp Duty is paid at different rates, depending on the purchase price. For example, someone subject to Stamp Duty buying a property for £245,000 would pay no tax on the value of the property up to £125,000 and 2% tax on the property value between £125,001 and £245,000. In this case, total liability for Stamp Duty would be £2,400 giving an effective tax rate of 1%.
Those subject to the additional rates of stamp duty rates will pay an extra 3% on top of the relevant standard rate band. In this example that would represent an extra £7,350, meaning the total stamp duty would be £9,750 giving an effective tax rate of 4%.
| Purchase price of property |
Rate of Stamp Duty
|
| £0 - £125,000 |
0% |
| £125,001 - £250,000 |
2% |
| £250,001 - £925,000 |
5% |
| £925,001 - £1,500,000 |
10% |
| Over £1.5 million |
12% |
* Properties under £40,000 are not subject to the additional SDLT rates
