Stamp duty for first time buyers has been abolished for most purchasers.
Stamp duty for buy to let property has increased substantially from April 2016.
Stamp duty for second homes also attracts a 3 percent surcharge from April. Mobile homes, caravans and houseboats are exempt.
Stamp duty refunds are available for home movers replacing their main residence. The original home must be sold within 3 years.
Stamp duty rates on UK property transactions are linked to the property selling price.
Rates of stamp duty (SDLT) increase in line with property value and there are a number of SDLT thresholds giving clear demarcation between the different rates. Stamp duty rates are different for residential and non residential property.
A dwelling is regarded as being "residential" if it complies with certain criteria. In most cases the definition of a residential dwelling applies to:
The freehold residential stamp duty rates in England and Northern Ireland are shown in the table below:
|Tax Band||Normal Rate||Additional Property|
|less than £500k||0%||3%*|
|£500k to £925k||5%||8%|
|£925k to £1.5m||10%||13%|
|rest over £1.5m||12%||15%|
|* An additional property purchased for less than £40k will attract 0% tax. For purchases from £40k to £500k the SDLT rate will be 3% on full purchase price.|
Under the current stamp duty system a 3% surcharge applies to all transactions involving the purchase of an additional property. Additional property types include buy to let investments and second homes. The surcharge applies to the full purchase price above an initial threshold of £40,000.
A stamp duty exemption normally applies if someone is replacing their main residence. In such a case the higher stamp duty rates would not apply. For a definition of a main residence please refer to our stamp duty for second homes section.
The stamp duty calculators below indicate how much tax will be payable for both single and additional freehold residential property purchases in England and Northern Ireland. SDLT calculations are also now available for first time buyers.
Stamp duty calculations with new stamp duty thresholds. One ckick SDLT Calculations!
Following Changes in 2018, Land Transaction Tax (LTT) has replaced Stamp Duty in Wales.