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# 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.

Property cost
I am

### Tax to pay

£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.

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.

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?

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