Figure out how much Stamp Duty Land Tax (SDLT) you will have to pay if you’re purchasing a residential home in England or Northern Ireland.
As a first time buyer purchasing a £300,000 property, you will need to pay £0 for SDLT (Stamp Duty Land Tax).
| From | To | Rate | Cost |
|---|---|---|---|
| £0 | £425,000 | 0% | £0 |
If you are a first time buyer
If this is your first home, you are eligible for a discount (relief). Meaning, you will pay no SDLT on the first £425,000, and 5% SDLT on the amount between £425,001 and £625,000.
However, if the price is over £625,000, you cannot claim the relief and should follow the standard SDLT rates listed below.
Examples
Below are some examples on how you will calculate the SDLT owed if you are a first time buyer for different property prices.
For a £300,000 property.
- 0% on the amount below £425,000 = £0
- Total SDLT = £0
For a £500,000 property.
- 0% on the first £425,000 = £0
- 5% on the remaining £75,000 = £3,750
- Total SDLT = £3,750
For a £625,000 property.
- 0% on the first £425,000 = £0
- 5% on the remaining £200,000 = £10,000
- Total SDLT = £10,000
For a £750,000 property.
The price is above £625,000 so you do not qualify for the relief, and standard SDLT rates are applied.
- 0% on the first £250,000 = £0
- 5% on the remaining £500,000 = £25,000
- Total SDLT = £25,000
Purchasing your next home
If you only possess one residential property after purchasing the property, you must pay stamp duty at these rates.
| Property value | SDLT rate |
|---|---|
| £0 - £250,000 | 0% |
| £250,001 - £925,000 | 5% |
| £925,001 - £1,500,000 | 10% |
| Above £1.5 million | 12% |
Examples
Below are some examples to show how you will calculate the SDLT owed for different property prices.
For a £300,000 property.
- 0% on the first £250,000 = £0
- 5% on the remaining £50,000 = £2,500
- Total SDLT = £2,500
For a £500,000 property.
- 0% on the first £250,000 = £0
- 5% on the remaining £250,000 = £12,500
- Total SDLT = £12,500
For a £750,000 property.
- 0% on the first £250,000 = £0
- 5% on the remaining £500,000 = £25,000
- Total SDLT = £25,000
For a £975,000 property.
- 0% on the first £250,000 = £0
- 5% on the next £675,000 = £33,750
- 10% on the remaining £50,000 = £5,000
- Total SDLT = £38,750
For a £1,300,000 property.
- 0% on the first £250,000 = £0
- 5% on the next £675,000 = £33,750
- 10% on the remaining £375,000 = £37,500
- Total SDLT = £71,250
Purchasing your second or an additional home
If you already own a property, and purchasing the next property means you will own more than one property, you will need to pay an additional 3% on top of the SDLT rates (listed above).
| Property value | SDLT rate for additional property |
|---|---|
| £0 - £250,000 | 3% |
| £250,001 - £925,000 | 8% |
| £925,001 - £1,500,000 | 13% |
| Above £1.5 million | 15% |
Examples
Below are some examples to show how you will calculate the SDLT when purchasing an additional property
For a £300,000 property.
- 3% on the first £250,000 = £0
- 8% on the remaining £50,000 = £2,500
- Total SDLT = £2,500
For a £500,000 property.
- 3% on the first £250,000 = £0
- 8% on the remaining £250,000 = £20,000
- Total SDLT = £27,500
For a £750,000 property.
- 3% on the first £250,000 = £0
- 8% on the remaining £500,000 = £40,000
- Total SDLT = £47,500
For a £975,000 property.
- 3% on the first £250,000 = £0
- 8% on the next £675,000 = £54,000
- 13% on the remaining £50,000 = £6,500
- Total SDLT = £68,000
For a £1,300,000 property.
- 3% on the first £250,000 = £0
- 8% on the next £675,000 = £54,000
- 13% on the remaining £375,000 = £48,750
- Total SDLT = £110,250
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