Stamp Duty Calculator - September 2022 updates

Stamp Duty Calculator 2022 (updated for 23/09/2022)

 

Use our calculator to work out how much Stamp Duty you’ll need to pay on the property you’re purchasing, or on a second home or buy-to-let (these attract an extra 3% charge). Please note, different SDLT rates and thresholds apply to non-residential property or mixed use land. Residential property purchases in Scotland and Wales are also governed by different transaction taxes.

The calculator and commentary is for general interest only and must not be relied on. It may not be up to date or complete, relates only to certain types of residential property in England or Northern Ireland and does not constitute advice. Please speak to us for help and advice relating to your specific financial circumstances.

Stamp Duty Land Tax has been replaced by a Land and Buildings Transaction Tax in Scotland and a Land Transaction Tax in Wales. Both countries have ended their respective support for their property markets too.

Stamp Duty Calculator

Please only check a box if it is applicable to your circumstances. The calculation will work with no boxes ticked (for example, if you are a home mover selling an existing property and buying another to live in).


Results
Stamp Duty to Pay

Effective Rate

 

When is Stamp Duty paid?

When buying a property over a certain price, stamp duty is payable to the HMRC 14 days from the date of completion or you may risk a fine. Your solicitor or legal adviser should take care of this for you and ensure you don't miss the deadline. Some buyers prefer to add on the stamp duty tax amount to their mortgage loan. Please speak to your mortgage provider.

Stamp Duty Land Tax (SDLT) is a progressive tax paid when purchasing a freehold, leasehold or shared ownership residential property over £250,000 in England and Northern Ireland (separate taxes apply in Wales and Scotland).

Different SDLT rates and thresholds apply to non-residential property or mixed use land.

The rates, which are payable only on the PORTION of a property price that falls within each band, were updated in the mini-Budget on 23 September and are set out below.

How much stamp duty will I have to pay when buying a residential property?

 

BracketsRate
Up to £250,000 0%
The next £675,000 (the portion from £250,001 to £925,000) 5%
The next £575,000 (the portion from £925,001 to £1.5 million) 10%
The remaining amount (the portion above £1.5 million) 12%

 

How to calculate the Stamp Duty rate

Example

  • Property purchase price: £850,000
  • There is no Stamp Duty Tax applied to the first £250,000
  • 5% above £250,000
  • That equates to an overall rate of 3.5% of the sale price, or £30,000

The rates are different for first-time buyers.

First-time buyers will not pay any stamp duty on the first £425,000 (up from £300,000 following the mini-Budget) and the value of any property on which they can claim this relief has risen to £625,000 from £500,000.

Buy-to-let and second homes Stamp Duty

From April 2016, buy-to-let and second home buyers in England and Wales will have to pay an additional 3% on each stamp duty band. To discuss which London or UK areas will provide the highest returns on investments, please speak to one of our London or regional property experts who can offer advice on where and when to invest.

Buy-to-let and second home Stamp Duty tax bands

BracketsStandard rateBuy-to-let/second home rate
£0 to £250,000 0% 3%
£250,001 to £925,000 5% 8%
£925,001 to £1.5m 10% 13%
Over £1.5m 12% 15%

Source: HMRC

 

Can I reduce Stamp Duty?

As stamp duty is only payable on the land purchase, removable fixtures and fittings, or chattels, such as freestanding wardrobes, sofas, fridges, carpets and curtains, are not subject to SDLT and can, therefore, be subtracted from the total property price. Everything 'attached' to the property such as light switches technically form part of the property and are subject to SDLT.

If a seller is willing to leave certain chattels, you should agree to pay a reasonable amount between yourself and the vendor and subtract it from the agreed purchase price. This can be executed by a good tax lawyer or conveyancer.

Who pays Stamp Duty?

Stamp duty is paid by everyone purchasing a residential or non-residential property in England and Northern Ireland, including overseas buyers, corporate bodies and non-natural persons.

What are the new rates of Stamp Duty Land Tax for non-UK residents from 1st April 2021?

On the 1 April 2021 a 2% stamp duty surcharge for overseas buyers purchasing residential property in England and Northern Ireland was introduced.

The surcharge applies to non-resident buyers regardless of the type of buyer (e.g. company or individual) subject to a few exceptions for specific collective investment vehicles such as REITs.

The surcharge is levied in addition to the 3% buy-to-let/second homes charge, the flat 15% stamp duty rate on purchases of dwellings worth more than £500,000 by companies acting as "envelopes" and the existing stamp duty rates for home buyers.

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Mortgage Advice. The choice of interest rate and product terms will depend on your circumstances and the amount of the mortgage. Before you make a mortgage application, we will carry out a full review to establish your needs and preferences and if you meet the criteria, we will give advice and make a recommendation to you. We do charge a fee for mortgage advice. All mortgages are subject to status. Please note that all products show an indicative rate only and may not be suitable for you. You must be 18 or over.

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