Stamp Duty Costs calculator

What is Stamp Duty Land Tax? 

Stamp Duty Land Tax is a tax we pay on property purchases. For a long time, it was calculated at 1% of properties over £60,000. But this was changed in 1997 to 1.5% on properties over £250,000 and 2% of properties over £500,000. In 2014, the system was overhauled totally, leaving us with the system we use now. 

Today, Stamp Duty is much more pricey and can add a large sum onto the cost of buying property. Here are the current rates👇

Heads up! As of the 31st of October 2024, the Stamp Duty Land Tax surcharge on second properties will increase from 3% to 5%.

🚨For the full scoop on this year’s Autumn Budget, check out our blog.🚨

How to use our Stamp Duty Costs Calculator

Using our Stamp Duty costs calculator is simple. Just let us know your situation – are you a buy to let landlord, buying your first home etc.? – and then let us know how much your property is worth. We’ll calculate what you owe in Stamp Duty tax. Simple.

If you’re either a first-time buyer or a non-UK resident, the rates will be a little different from the above table. Non-residents pay a little extra, first-time buyers pay a little less. Expand the calculations to see the breakdown of your calculation.

Is Stamp Duty tax deductible?

In short, no. You can’t deduct Stamp Duty as an expense. 

First time buyer relief

As a first-time buyer, you don’t pay Stamp Duty at the same rate as those already on the property ladder. This helps more people get into the market, despite rising prices. As a first-time buyer, you don’t pay Stamp Duty on properties less than £425,000 – and on properties up to £625,000, you pay a reduced rate (5%). Read more about Stamp Duty on our blog. Or if you’re selling a house, check out our Capital Gains Tax calculator.