Manns & Manns
Stamp Duty Calculator
On 4th of December 2014, stamp duty on property purchases was reformed by the Government. The stamp duty calculations are now worked out in increments of your purchase price, rather than the previous calculations which was a percentage of the overall purchase price.
Please note that since April 2016, a 3% SDLT surcharge has applied to purchases of buy to let property and second homes.
First time buyers have beneficial rates when purchasing under £425,000. You can find out more on the HMRC website.
We do advise to seek advice from HMRC websites and solicitors to confirm your individual circumstances, when calculating any stamp duty you may need to pay. Below we have also shown the stamp duty guide to assist you with your calculations.
You usually pay Stamp Duty Land Tax (SDLT) on increasing portions of the property price when you buy residential property, for example a house or flat.
SDLT currently only applies to properties over £250,000. You usually pay 3% on top of these rates if you own another residential property.
Up to £250,000 – Zero
The next £125,000 (the portion from £125,001 to £250,000) – 2%
The next £675,000 (the portion from £250,001 to £925,000) – 5%
The next £575,000 (the portion from £925,001 to £1.5 million) – 10%
The remaining amount (the portion above £1.5 million) – 12%
Please note this was last updated in February 2024. To ensure the amount to pay is correct please at the time of your transaction, contact your legal advisor or visit the government website where there is a useful calculator. Please note this is a guide and should not be deemed as accurate information or relied upon.
In October 2022 you buy a house for £295,000. The SDLT you owe will be calculated as follows:
• 0% on the first £250,000 = £0
• 5% on the final £45,000 = £2,250
• total SDLT = £2,250
You can claim a discount (relief) if the property you buy is your first home. This means you’ll pay:
• no SDLT up to £425,000
• 5% SDLT on the portion from £425,001 to £625,000
You’re eligible if you and anyone else you’re buying with are first-time buyers.
If the price is over £625,000, you cannot claim the relief. Follow the rules for people who’ve bought a home before.
You are a first-time buyer and purchase a property for £500,000. The SDLT you owe will be calculated as:
• 0% on the first £425,000 = £0
• 5% on the remaining £75,000 = £3,750
• total SDLT = £3,750