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 for residential properties purchased from 1st July 2021 and also from 1st October 2021. For more information on Stamp Duty Land Tax, click here.
Stamp Duty Land Tax (SDLT) is a tax on properties bought in England and Northern Ireland. The rate of stamp duty you'll pay will depend on where in the UK you decide to buy the property. England and Northern Ireland share the same rates, whilst Scotland and Wales differ. The cost of stamp duty will vary depending on the price of your chosen property and your reason for buying it.
From 1st July 2021, if your property costs more than £250,000 then you will have to pay SDLT, and if you're a first-time buyer you won't have to pay any SDLT on a property up to £300,000. The amount you pay does depend on the value of your property as it is worked out on a percentage of your purchase price. It is important to consider SDLT when thinking about buying a house as in some cases it could be a considerable amount.
The stamp duty holiday was announced July 2020 in an attempt to stimulate the property market following a fall in activity during the first Covid-19 lockdown. It first meant no stamp duty was charged on a residential property under the value of £500,000. From July 1st 2021, the value before you will be charged stamp duty will be reduced to purchases under £250,000. Before the holiday and from 1st October 2021, tax will be payable for any property over the value of £125,000 – the amount being dependant on the value of the property.
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