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Stamp Duty Calculator


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From April 2018, Land Transaction Tax will replace UK Stamp Duty Land Tax (SDLT) in Wales
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Stamp Duty Calculator

Stamp Duty Land Tax is a tax on properties bought in England and Northern Ireland. You will have to pay it on any property which costs more than £125,000 and for additional properties which cost more than £40,000.

Depending on your circumstance, the tax thresholds change. Therefore depending on the price of the property and whether it is your first-time property, buying your next home or an additional property will depend on the tax you pay.

As there are many different types of stamp duty tax, we have created a stamp duty calculator to help you work out how much you will have to pay for the property you buy. Simply fill out the purchase price and see what your tax will be.

 

Stamp Duty FAQs

 

Do you have to pay Stamp Duty on your first property?

If you’re buying your first home for less than £300,000, you won't have to pay Stamp Duty at all. First-time buyers that are purchasing a property between £300,000 and £500,000 won't have to pay stamp duty on the first £300,000. Stamp Duty of 5% will be charged on the amount between £300,000 and £500,000.

First-time buyers that are purchasing homes for more than £500,000 will have to pay stamp duty at the standard rates.
 


How do I pay Stamp Duty?

Your solicitor will usually deal with your Stamp Duty return and any related payments, although this can be done yourself. The most important thing is that your Stamp Duty is submitted and paid on time. 

 

When do I pay Stamp Duty?

This is an important question, and it is crucial to know that wherever in the UK you’re buying a property, you have 30 days from the date you of competition to pay the full stamp duty fee. If you take longer, you will be faced with a fixed penalty, and you will pay a tax-based penalty as well as the fixed penalty. It is really important that you pay your Stamp Duty fee on time!

 

Can I add Stamp Duty to my mortgage?

This mainly depends on your personal circumstances. It is best that you don’t add it to your mortgage, however, many people do as they have to. Adding the stamp duty fee to your mortgage will essentially mean that you need to borrow more when your mortgage is being taken out. You will use your ‘extra’ deposit money to pay the Stamp Duty.

 

I’m purchasing a second home, how much Stamp Duty do I need to pay?

Buyers of additional residential properties, this includes second homes and also buy-to-let properties, will have to pay an extra 3% in Stamp Duty on top of current rates for each band. However, it is important to note that this does not apply to caravans, houseboats or motorhomes.
 


Mortgage Calculator

Mortgage calculators are perfect for understanding how much you will be able/ need to borrow from lenders. Using our mortgage calculator along with our Stamp Duty calculator will help you finalise most of your property purchasing outgoings, making the process as seamless as possible.

 

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