|Tax Band||%||Taxable Sum||TAX|
|£0 - 125,000||0%||£0||£0|
|£125,001 - £250,000||2%||£0||£0|
|£250,001 - £925,000||5%||£0||£0|
|£925,001 - £1,500,000||10%||£0||£0|
|£0 - 125,000||3%|
|£125,000 - £250,000||5%|
|£250,001 - £925,000||8%|
|£925,001 - £1,500,000||13%|
The way stamp duty rates for residential purchases are calculated within England and Wales was changed with effect from the Autumn Statement on 3 December 2014. The old structure was replaced by a progressive scale of charges levied on all transactions over £125,000.
The new percentages apply to the value above each threshold up to the full purchase price, for example, in the same way that income tax operates.
To calculate the stamp duty that may be payable on your planned purchase simply put the purchase price into our stamp duty calculator. It is important to note that this is an indicator only, your solicitor or tax consultant will advise you as to the actual Stamp Duty Land Tax that must be paid on completion.
These rates do not apply to the Land and Buildings Transaction Tax (LBTT) applicable in Scotland since April 2015, for transactions in Scotland please use our separate LBTT calculator. The Stamp Duty Indicator also presumes that none (or part) of the property qualifies as mixed-use for which the current SDLT would be up to 5%. Importantly, you cannot use the tool for residential properties with chargeable consideration over £500,000 where the 15% rate of SDLT applies. You’ll need to perform a manual calculation instead, your solicitor or tax consultant will be able to advise.
Non residential transactions
This calculator applies to residential transactions only. If all, or part, of your transaction is commercial, agricultural or non residential then the rates will differ. Please contact a member of our team to discuss further.
First time buyers
As of 22 November 2017, stamp duty land tax has been abolished for first-time purchases up to £300,000 and the existing rate of 5% will apply between £300,000 and £500,000. The relief will not apply to properties above £500,000.
Additional Properties (Second Homes/Buy-To-Let)
From 1 April 2016 an additional 3% will be added above the existing SDLT rates on purchases of ‘additional residential properties’ (such as second homes & buy to let property).
To support the government’s housing initiatives, the additional higher rates will be applied to existing rates on residential purchases over £40,000 in value, but will not apply to organisations or funds making significant investments in residential property. To find out if the Stamp duty changes affect you please contact our Residential Property Team.