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What is Stamp Duty?

When purchasing a property in the UK a charge is applied to that property, dependent on its value. That Charge is Stamp Duty (Stamp Duty Land Tax). The current Stamp Duty threshold starts at £125,000. The rate of Stamp Duty increases by 3% for buyers of additional residential properties, such as second homes and buy-to-let properties.

What are the rates?

Purchase price of property Rate of Stamp Duty Buy to Let/Additional Home Rate*
£0 - £125,000 0% 3%
£125,001 - £250,000 2% 5%
£250,001 - £925,000 5% 8%
£925,001 - £1.5 million 10% 13%
Over £1.5 million 12% 15%

First-time buyers buying properties for between £300,000 and £500,000, won't have to pay stamp duty on the first £300,000. The excess between £300,000 and £500,000 will be charged at 5%. First-time buyers purchasing homes for more than £500,000 will have to pay stamp duty at the standard rates.

Stamp Duty Calculator

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Stamp Duty Calculation Breakdown

Tax Band % Taxable Sum Tax
less than £125k 0 £0 £0
£125k to £250k 2 £125,000 £2,500
£250k to £925k 5 £675,000 £33,750
£925k to £1.5m 10 £75,000 £7,500
rest over £1.5m 12 £0 £0