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Buying a residential property

How much stamp duty will you have to pay?

Stamp Duty Land Tax (SDLT) is a tax you pay when purchasing a property or land. Known as a “progressive tax”, the amount of stamp duty you pay is determined by the cost of the property or land you’re purchasing. Stamp duty is organised by thresholds, banding properties by their value. Some people, such as first-time buyers, benefit from stamp duty relief up to a certain threshold.

Stamp Duty Calculator for England and Northern Ireland (2022)

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FREQUENTLY ASKED QUESTIONS

Stamp Duty in England & NI

We’ve compiled a list of the most common questions about Stamp Duty Land Tax (SDLT) when buying a property. For further expert advice, talk to us.

Who pays Stamp Duty? + -

Stamp duty is paid by everyone purchasing a residential or non-residential property in England and Northern Ireland, including overseas buyers, corporate bodies and non-natural persons.

What are the current Stamp Duty thresholds? + -
In England and Northern Ireland, for a main residence up to the value of £125,000 you will pay no stamp duty, for an additional property in the same threshold you will pay three percent. For a main residence costing between £125,001 and £250,00, you will pay two percent stamp duty, on an additional property in the same threshold you will pay five percent. If you buy a main residence costing between £250,001 and £925,000, stamp duty is set at five percent, and for an additional property in the same threshold it is eight percent. For main residences costing from £925,001 and £1,500,000, stamp duty is 10 percent, whereas for an additional property in the same threshold it will be 13 percent. A main residence costing over £1,500,001 will cost 12 percent in stamp duty, and an additional property in the same threshold will cost 15 percent.
I'm a first-time buyer. Do I have to pay Stamp Duty? + -

First-time buyers do not have to pay stamp duty on properties costing less than £300,000, and up to the value of £500,000, first time buyers do not pay stamp duty on the first £300,000 of their home’s value.

So if a first-time buyer is purchasing a house costing £450,000, they will only pay a stamp duty of two percent, as they are only paying stamp duty on £150,000.

When is stamp duty paid? + -

When buying a property over a certain price, stamp duty is payable to the HMRC 14 days from the date of completion or you may risk a fine. Your solicitor or legal adviser should take care of this for you and ensure you don't miss the deadline. Some buyers prefer to add on the stamp duty tax amount to their mortgage loan.

How much stamp duty will I pay when buying a second home? + -

If you’re buying an additional property, such as a second home you’ll have to pay an extra 3% in Stamp Duty on top of the standard rates.

This increased rate applies to properties bought for £40,000 or more.

It doesn’t apply to caravans, mobile homes or houseboats.

I'm a non-resident of the UK. Do I have to pay extra Stamp Duty? + -

From 1 April 2021, if you’re a non-UK resident buying a residential property in England or Northern Ireland, you might have to pay an additional 2% on top of the existing Stamp Duty rates for properties costing more than £40,000.

When is stamp duty not payable? + -

There may be circumstances where Stamp Duty may not be payable. Some examples might include:

  • Transfer of property in pursuance of a court order during separation, divorce or dissolution are generally exempt. If a couple agree to separate permanently without getting a court order they will be treated for SDLT purposes as an unmarried couple.
  • Property left under the terms of a will may not be subject to SDLT provided no other consideration is given. There is usually no requirement to inform HRMC in this case.
  • If you gift your home to someone else they won’t have to pay SDLT on the market value of the property provided there is no outstanding mortgage on the property. If you take over some or all of an existing mortgage, SDLT may be payable on the value of the mortgage over the relevant SDLT threshold.

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