We sort your Self Assessment for you. £149, all in.

Fast, effortless and 100% online.  Learn more

We sort your Self Assessment for you. £149, all in.
<- View all TaxScouts tax calculators

Stamp duty calculator

Buying a house? Calculate how much Stamp Duty you will need to set aside as a property tax to add to your total cost.

Your situation

Outlined number oneImage of an arrow
I am buying
Property cost
I am

Tax to pay

Outlined number two
  • Your property costs
    £500,000
    0% tax up to £300,000
  • Stamp Duty to pay
    £10,000

How your Stamp Duty Land Tax is calculated

The Stamp Duty you pay is calculated based on the price of the property you’re buying.

In your case, £500,000.

As you’re a first-time buyer, you don’t pay Stamp Duty Land Tax on the first £300,000 of your purchase.

You pay 5% Stamp Duty on amount up to £500,000. For you, this is £10,000.

Your Stamp Duty Land Tax total is £10,000.

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👇. You pay these cumulatively, so if you buy a £1 million home, you’ll pay 2%, 5% and 10% on each respective portion of the property cost:

Property Price Stamp duty rate
Up to £125,000 0%
£125,001 – £250,000 2%
£250,001 – £925,000 5%
£925,000 – £1.5 million 10%
Over £1.5 million 12%

How to use our Stamp Duty Tax Calculator

Our calculator is very easy to use. 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 £300,000 – and on properties up to £500,000, you pay a reduced rate. Read more about Stamp Duty on our blog. Or if you’re selling a house, check out our Capital Gains Tax calculator.

Looking for tax help?

Or see our Guides, Calculators or Taxopedia

TaxScouts Newsletter

Want regular tips from us?

Sign up for important updates, deadline reminders and basic tax hacks sent straight to your inbox.

"*" indicates required fields

Category
TaxScouts Newsletter

Want regular tips from us?

Sign up for important updates, deadline reminders and basic tax hacks sent straight to your inbox.

"*" indicates required fields

Category