Our easy to use calculators will inform you of the Stamp Duty you will have to pay and the approximate costs of a mortgage based on prevailing rates.
The Stamp Duty calculator is for purchases only. For the acquisition of (non-residential) leasehold property and some of the further details regarding this tax please see the explanatory notes below.
For the calculator you will need to select residential or non-residential (to include mixed use) property and state whether you are a first-time buyer or buying a second home.
Stamp Duty Land Tax (SDLT) is payable to HMRC when buying property or land over a certain value in England, Northern Ireland and Wales. In Scotland, Stamp Duty has been replaced by Land & Buildings Transaction Tax.
Stamp Duty applies whether you are purchasing a property for investment or to live in, and to both freehold and leasehold properties. The tax is levied progressively, in a similar way to income tax. A first residential purchase of up to £300,000 no longer attracts the tax, and the existing rate of 5% applies between £300,000 and £500,000. The first-time buyer relief does not apply to properties above £500,000.
Calculating your liability to Stamp Duty depends on the type of property you are buying, and whether it is your principal private home, a second home/buy-to-let or a non-residential or mixed-use property as detailed below.
If you are purchasing a residential property, are not a first-time buyer, and this will be the only residential property you will own, whether you live in it or not, you will pay Stamp Duty if the transaction price is above £125,000. Thereafter, you pay tax as follows:
- The next £125,000 (the portion from £125,001 to £250,000) - 2%
- 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%
Since April 2016, anyone purchasing a second home or buy-to-let property above £40,000 (unless this is the only property you own) will have to pay an additional 3% on top of the amounts detailed above.
If you are purchasing a property which you intend to use as your only home, but haven’t yet sold your previous home, you would have to pay the higher rates above but if you sell your old property within 36 months you could get a refund.
Non-residential property includes:
- Commercial property,eg shops, industrial or offices
- Agricultural land/farms
- Any other land or property which is not used as a residence
- 6 or more residential properties bought in a single transaction
A ‘mixed use’ property is one that has both residential and non-residential elements, eg a flat connected to a shop or office.
If the property is classified as non-residential or mixed-use land and property then, as from the 17th March 2017 there is a stepped regime for Stamp Duty as follows:
- Up to £150,000 - 0%
- Above £150,000 and up to 250,000 - 2%
- Above £250,000 - 5%
This replaces the old regime which was a flat 4% of the purchase price.
When you buy a non-residential or mixed use leasehold interest you pay SDLT on both the:
- Purchase price of the lease (the ‘lease premium’)
- Value of the annual rent you pay (the ‘net present value’)
These are calculated separately then added together.
If you buy an existing (‘assigned’) lease, you only pay SDLT on the lease price (or consideration).
The net present value (NPV) is based on the total rent over the life of the lease. You don’t pay SDLT on the rent if the NPV is less than £150,000.
Net present value of rent
|£0 to £150,000||Zero|
|The portion from £150,001 to £5,000,000||1%|
|The portion above £5,000,000||2%|
You can work out how much SDLT you’ll pay for your non-residential lease using HM Revenue and Customs’ (HMRC)
- Leasehold SDLT calculator
You may pay a higher rate of SDLT for multiple purchases or transfers from the same seller.
Stamp Duty needs to be paid to HMRC within 30 days of completion of a transaction. Your Solicitor will normally deal with this payment on your behalf.
Please note – The information on Stamp Duty and the calculator are believed to be correct at the date of publication (last update April 2018) but purchasers should not rely on the figures provided and should seek confirmation from a Solicitor or Accountant to confirm liability to this and other possible taxes.