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Stamp Duty in England and Northern Ireland (SDLT)
Calculate stamp duty in England and Northern Ireland
|NEW STAMP DUTY HOLIDAY|
|The UK chancellor has announced a stamp duty holiday in order to boost property sales and the economy. This reduction in stamp duty applies to England and Northern Ireland from 8th of July 2020 to 31st of March 2021. The threshold where stamp duty will be applied has been risen from £125,000 to £500,000.|
The UK government requires you to pay stamp duty if you purchase a property above a certain value in England or Northern Ireland. If you purchase a property in Scotland or Wales, see the following resources:
Buying a property in Scotland? You must pay Land and Transaction Tax in Scotland
Buying property in Wales? Use out LTT calculator to calculate stamp duty in Wales
Free Stamp Duty Calculator
Enter your property price in our stamp duty calculator below to find out how much stamp duty you are liable to pay. Remember to tick the relevant box if you are buying a second home or if you are a first time buyer. See the table below for the recently revised rates in the wake of the stamp duty holiday announced by the UK Government.
|We have now updated our stamp duty calculator to reflect recent changes in UK Government policy. If stamp duty rates should change again after March 31st 2021 the stamp duty calculator will be updated accordingly.|
Helpful Stamp Duty Answers
What is stamp duty (SDLT)?
Stamp Duty Land Tax (SDLT) is a tax levied on property sales in England and Northern Ireland. The rates vary depending on the value of the property, the type of property and whether you are a first time buyer or buying a second home. Use our stamp duty calculator to work out the approximate rate of stamp duty you will pay on the purchase price of your property.
How much is stamp duty for first time buyers?
Stamp duty for first time buyers is lower than normal stamp duty rates. If your property is worth £500,000 or less you will pay no stamp duty on the first £300,000 of the property purchase price. We advise you to take legal advice to be certain of your circumstances when it comes to stamp duty in England and NI.
Is your stamp duty calculator free to use?
Yes our stamp duty calculator is completely free for our website visitors to use. While we strive to make our stamp duty calculator as accurate as possible, you should talk to your local authorities and your legal advisers to be certain of the exact amount of stamp duty that applies to you.
Do I qualify for the new stamp duty holiday?
On 8th July 2020 the UK Government announced a stamp duty holiday for England and Northern Ireland. This means for properties with a purchase price of £500,000 or less, no stamp duty will apply. This is a temporary stamp duty holiday for the period 8th July 2020 - 31st March 2021. Check with your local authority or legal adviser for rates pertaining to your particular set of circumstances.
How much is stamp duty in Wales?
Stamp duty in Wales is called LTT or Land Transaction Tax. These are charged at different rates and only apply to Wales. See our dedicated page for stamp duty in Wales (LTT) and the rates which apply to you.
Need a mortgage to purchase an auction property? Try our UK mortgage calculator
What is stamp duty?
Stamp duty, also known as SDLT (Stamp Duty Land Tax) in England and Northern Ireland is a land tax levied on property purchases over a certain value.
You must send a tax return to HMRC within 14 days of completion of purchase. Your solicitor will usually inform you of this during your property purchase. You may also be eligible for relief if you are a first time buyer or under other relief schemes.
How does the stamp duty calculator work?
Our stamp duty calculator works by giving you a general guideline on the amount of stamp duty you will have to pay on the purchase price of your property.
While we believe it to be close to accurate, after using our stamp duty calculator to get a general idea of the figure, you should always consult your legal or financial adviser to find out the actual amount of stamp duty you will have to pay.
If you are a first time buyer then you are entitled to a reduction in the rate of stamp duty, whereas if you are buying a second home or a buy-to-let property you will pay a higher rate. If either of these scenarios apply to you, tick the relevant box on our stamp duty calculator to obtain a more accurate figure.
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Where does stamp duty apply?
Stamp duty only applies in England and Northern Ireland. In Scotland you must pay Land and Buildings Transaction Tax and if you are buying a property in Wales then stamp duty in Wales is called Land Transaction Tax, or LTT.
What are the new stamp duty holiday rates?
The UK Chancellor of the Exchequer announced a stamp duty holiday, effective immediately, until March 2021. The new stamp duty rates for England and Northern Ireland are as follows and are accurately reflected in the results from our stamp duty calculator above:
|Minimum purchase price||Maximum purchase price||Stamp Duty rate|
|Over £1.5 million||12%|
Stamp Duty For Second Homes
If you purchase a second property with a value of more than £40,000 you will be liable for second home stamp duty. Under the current revised rates, this means an extra 3% on the revised rates for second homes. Use our stamp duty calculator and tick the box to calculate your stamp duty for a second home.
If you have bought a second home but you still own your first one, for example, if you are having difficulty selling your first property, then you are still liable for second home stamp duty on the new purchase.
In addition, the revised stamp duty rates in England and Northern Ireland are only for a limited period of time. If your property purchase should fall outwith these dates (full completion of the property sale) then the reduced SDLT rates will not apply. Check with your legal adviser for advice if you are unsure.
When Is Stamp Duty Payable?
Stamp duty in England and Northern Ireland is payable within 14 days of the completed property purchase. You should be aware that if you fail to pay the required stamp duty within this window of time, you may be subjected to fines or financial penalties imposed by HMRC. If in doubt, take legal advice.
Stamp Duty For First Time Buyers
If you are a first time buyer then you are entitled to reduced stamp duty rates. This means the stamp duty rate for first time buyers exempts them for duty on the first £300,000 of the purchase price, provided the overall price is less than £500,000.
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