Stamp duty land tax calculator

If you’re considering purchasing a residential property or a piece of land in England or Northern Ireland, you will likely encounter Stamp Duty Land Tax (SDLT) as a part of the transaction process. This tax becomes applicable when the property purchase surpasses the £250,000 threshold.

As of the mini-budget announcement on 23 September 2022, Stamp Duty rates will remain consistent until 31 March 2025.

The amount of SDLT you are required to pay is determined by specific Stamp Duty bands. It is calculated based on the portion of the property price that falls within each respective band.

What is Stamp Duty?

Stamp Duty Land Tax (SDLT) is a tax you might have to pay if you buy a property in England or Northern Ireland but you’ll only have to pay it if the house you’re buying is over a certain price. You’ll pay Stamp Duty on residential properties costing more than £250,000, unless you qualify for first-time buyer’s relief.

Eligible first-time buyers will pay no Stamp Duty on properties costing up to £425,000, and a discounted rate on property purchases up to £625,000. If you’re buying a property in Scotland, you will pay Land and Buildings Transaction Tax (LBTT) and in Wales Land Transaction Tax (LTT) instead of Stamp Duty.

How much is Stamp duty?

There are several rate bands for Stamp Duty. The tax is calculated on the part of the property purchase price falling within each band. You’ll pay Stamp Duty on the purchase of your main property costing more than £250,000, unless you’re a first-time buyer.

The rate of Stamp Duty you pay depends on where in the UK you’re buying a property. England and Northern Ireland have the same rates, while Scotland and Wales use different ones.

When do you pay stamp duty?

You have 14 days to file a Stamp Duty Land Tax (SDLT) return and pay any SDLT due. If you don’t submit a return and pay the tax within 14 days, HMRC might charge you penalties and interest.