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Stamp duty

When you buy a residential property in England and Wales over a certain price you have to pay stamp duty. In Scotland, Land and Buildings Transaction Tax replaced stamp duty on 1st April 2015.

In December 2014 the way stamp duty in England and Wales is calculated changed, making it cheaper for 98% of people who pay it.

  • Under the old rules, buyers paid tax at a single rate on the entire property price.
  • Now you only pay the rate of tax on the part of the property price within each tax band – like income tax. 

From April 2016 buy to let and second home buyers will have to pay a 3% surcharge on each stamp duty band.

 

Stamp Duty Calculator

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This calculator provides a guide to the amount of residential stamp duty you may pay and does not guarantee this will be the actual cost. This calculation is based on the Stamp Duty Land Tax Rates from 04/2016. For more information on Stamp Duty Land Tax, click here.

Stamp duty rates in England and Wales for residential property:

Purchase price under £125,000

No stamp duty is charged on properties under £125,000.

Purchase price between £125,001 and £250,000

Buyers don’t pay stamp duty on the first £125,000, however they pay 2% on the remainder of the property price up to £250,000.

Purchase price between £250,001 and £925,000

Buyers don’t pay stamp duty on the first £125,000; they pay 2% on the portion of the price between £125,001 and £250,000; then they pay 5% on the portion of the price over £250,001.

 

Purchase price between £925,001 and £1.5m

Buyers don’t pay stamp duty on the first £125,000; they pay 2% on the portion of the price between £125,001 and £250,000; then they pay 5% on the portion of the price between £250,001 and £925,000; and 10% on the portion between £925,001 and £1.5 million.

Purchase price over £1.5m

Buyers don’t pay stamp duty on the first £125,000; they pay 2% on the portion of the price between £125,001 and £250,000; then they pay 5% on the portion of the price between £250,001 and £925,000; 10% on the portion between £925,001 and £1.5 million; and 12% on the portion over £1.5 million.

Land and Buildings Transaction Tax Rates in Scotland for residential property:

Purchase price under £145,000

No tax is charged on properties under £145,000.

Purchase price between £145,001 and £250,000

Buyers don’t pay tax on the first £145,000, however they pay 2% on the remaining property price.

Purchase price between £250,001 and £325,000

Buyers don’t pay tax on the first £145,000. They pay 2% on the portion of the price between £145,001 and £250,00 and then they pay 5% on the portion of the price between £250,001 and £325,000.

 

Purchase price between £325,001 and £750,000

Buyers don’t pay tax on the first £145,000. They pay 2% on the portion of the price between £145,001 and £250,00; then they pay 5% on the portion of the price between £250,001 and £325,000; and then 10% on the portion of the price between £325,001 and £750,000.

Purchase price £750,001 and over

Buyers don’t pay tax on the first £145,000. They pay 2% on the portion of the price between £145,001 and £250,00; then they pay 5% on the portion of the price between £250,001 and £325,000; and then 10% on the portion of the price between £325,001 and £750,000; and then 12% on the portion of the price that is £750,001 and over.

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