Stamp duty calculator

The standard rate bands for stamp duty are as follows*:

0% stamp duty on first £0 - £125,000 of property value

2% stamp duty on next £125,001 - £250,000 of property value

5% stamp duty on next £250,001 - £925,000 of property value

10% stamp duty on next £925,001 - £1.5 million of property value

12% stamp duty above £1.5 million of property value

*Figures accurate as of April 2020 for the April 2020 to April 2021 tax year

The stamp duty rate you’ll pay is not confined to just one of these bands. Each band applies to the equivalent portion of the property price. For example, if you buy a house for £300,000, the stamp duty you’ll pay will be:

• The first £125,000 x 0% = £0

• The next £125,000 x 2% = £2,500

• The final £50,000 x 5% = £2,500

Total stamp duty = £5,000

It’s a bit complicated, especially on more expensive properties, so a stamp duty calculator can be useful.

If you’re a first-time buyer, you could get stamp duty relief on properties up to the value of £500,000.

If you buy a home up to the value of £300,000, you won’t have to pay any stamp duty at all.

If your property costs between £300,000 and £500,000, you won’t have to pay anything on the first £300,000. But you’ll have to pay a rate of 5% for the remaining part.

For example, on a property that costs £450,000, your stamp duty would be:

• The first £300,000 x 0% = 0%

• The remaining £150,000 x 5% = £7,500

Total stamp duty = £7,500

To be eligible for this discount:

• all be first time buyers if involved in buying the property

• your property cannot have a value of over £500,000

If you’re a first-time buyer and the property you’re buying is over £500,000, you’ll need to follow the standard rate bands.

In Scotland, to buy a single property you do not have to pay any tax on the first £145,000.

The following rates apply over the first £145,000:

• 2% on the value of the property between £145,000 and £250,000

• 5% on the part between £250,000 and £325,000

• 10% on the part from £325,000 to £750,000

• 12% on any value over £750,000

First time buyers in Scotland do not pay stamp duty on the first £175,000. 

LTT is usually exempt on the first £180,000 of the property.

The following rates apply over £180,000:

• 3.5% between £180,000 and £250,000

• 5% on the part between £250,000 and £400,000

• 7.5% on the part between £400,000 and £750,000

• 10% within the next band up to £1.5 million

• 12% over £1.5 million

There’s not currently any relief for first-time buyers in Wales. The higher tax-free threshold of £180,000 should make most first time buys tax-free. (3)