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Stamp Duty Calculator
Plus full Q&A, incl full info on stamp duty holiday up to £500,000
Updated 8 June 2021
There's less than a month to go until the stamp duty tax break changes in England and Northern Ireland, and ends completely in Wales. This guide's got all you need to know about how stamp duty works, if you'll need to pay it, and what happens when the holiday ends. It also includes an updated Stamp Duty Calculator, which shows how much missing the stamp duty holiday deadline might cost you.
Note: We're using stamp duty as a generic term here for ease because that is what so many people refer to it as – we know that it's called something different in Scotland (land and buildings transaction tax) and Wales (land transaction tax).
1 min read: How stamp duty works
Stamp duty is a tax charged when you buy a property in England, Scotland, Northern Ireland and Wales. We've a summary and quick links on how to get started if you already know the basics. Alternatively, read the full guide below for detailed help.
1. Use our FREE Stamp Duty Calculator. Punch in the details of how much you're paying for your property, where you're buying and when you expect to complete into our free calculator to see how much stamp duty you'll need to pay.
2. Check stamp duty rates where you live. What you pay depends on where you're buying, as the rates differ in England, Scotland, Wales and Northern Ireland. Rates will also change when the stamp duty holiday ends. First-time buyer? Rates can be different, so check if you might benefit from first-time buyer stamp duty relief.
3. Remember to pay your stamp duty on time. You've got 14 days from completion in England and Northern Ireland, and 30 days in Wales and Scotland. We've got details of how to pay depending on where you're buying.
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What is stamp duty?
When you buy a property or land, you usually pay tax on it. While often referred to as stamp duty, that's only the name in England and Northern Ireland – it's different in Scotland and Wales, where it's known as 'land and buildings transaction tax' and 'land transaction tax' respectively.
Since 2014, all the home nations have had a progressive stamp duty rate system. This means that instead of paying a single rate on the ENTIRE property price, depending on the cost of the property you're buying you might end up paying one rate on a certain portion of the property and a different rate on another.
Stamp Duty Calculator
The rate of stamp duty you'll pay depends on where in the UK you're buying a property. England and Northern Ireland have the same rates, while Scotland and Wales use different rate bandings.
Our calculator shows how much stamp duty is due on a MAIN RESIDENCE ONLY (excluding buy-to-let and additional properties), based on where you're buying.
Updated calc: You can now input your estimated completion date into our calculator. It's important that you fill this field in if you're buying in England, Northern Ireland or Wales. That's because stamp duty becomes payable once you've completed, and the amount you'll need to pay might be affected by the ending or tapering of stamp duty holidays, which'll result in the tax due changing from Thursday 1 July.
Stamp duty holiday in Eng, NI & Wal lasts until 30 June – how it works
In response to the coronavirus pandemic, the threshold at which you start paying stamp duty in England and Northern Ireland, land and buildings transaction tax in Scotland and land transaction tax in Wales was temporarily increased.
This stamp duty 'holiday' has been extended in England, Northern Ireland and Wales, but not in Scotland. Here's a breakdown of how the stamp duty holiday works in each country.
Stamp duty holiday in England and Northern Ireland extended until end of June (and tapered after that)
The stamp duty holiday in England and Northern Ireland was originally scheduled to end in March 2021, but has been extended. This is how it works:
- Until 30 June. No stamp duty will be due on the first £500,000 of any primary residential property.
- Between 1 July and 30 September. No stamp duty will be due on the first £250,000 of any primary residential property – though it's higher if you're a first-time buyer.
- From 1 October. The stamp duty holiday ends on 30 September, and normal stamp duty rates apply after.
You need to have completed your property purchase by 30 September to benefit from the stamp duty holiday. If you exchange on or before 30 September, but complete after 30 September, then you'll have missed the deadline and will need to pay the normal rate of stamp duty.
Stamp duty holiday in Wales extended until end of June
In July 2020, the threshold at which you start paying land transaction tax in Wales was temporarily increased to £250,000. This stamp duty holiday was also set to end on 31 March 2021, but it'll now run until 30 June 2021.
- Until 30 June. No land transaction tax will be due on the first £250,000 of any primary residential property.
- From 1 July. The stamp duty holiday ends on 30 June, and normal stamp duty rates apply after.
You need to have completed by 30 June to benefit from the stamp duty holiday. If you exchange on or before 30 June, but complete after 30 June, then you'll have missed the deadline and will need to pay the normal rate of stamp duty.
Stamp duty holiday in Scotland ENDED on 31 March
The stamp duty (land and buildings transaction tax) holiday in Scotland lasted from July 2020 until 31 March 2021. Since 1 April 2021, the rate at which you pay land and buildings transaction tax has gone back to its pre-coronavirus rate (during the holiday you didn't have to pay anything up to £250,000).
You need to have completed by 31 March to benefit from the stamp duty holiday in Scotland. If you exchanged on or before 31 March, but completed after 31 March, then you'll have missed the deadline and will need to pay the normal rate of stamp duty.
Stamp duty rates in England and Northern Ireland
In England and Northern Ireland, no stamp duty is due on the first £500,000 of a property (provided it's your main residence, it excludes additional properties) until 1 July 2021. This includes if you're a first-time buyer.
Here are the stamp duty rates until then:
| Stamp duty in England and Northern Ireland (until 30 June) | ||
|---|---|---|
| PURCHASE PRICE | RATE ON MAIN RESIDENCE (1) |
RATE FOR ADDITIONAL PROPERTIES (2) |
| Up to £500,000 | 0% | 3% |
| £500,001 – £925,000 | 5% | 8% |
| £925,001 – £1,500,000 | 10% | 13% |
| £1,500,001 + | 12% | 15% |
| (1) Rate applies to that portion of the purchase price. (2) Additional properties bought for less than £40,000 will be charged the main residence rate of stamp duty. | ||
1. Let's assume you're buying a property for £450,000...
You pay nothing below £500,000. So this means you'll pay no stamp duty at all.
2. Let's assume you're buying a property for £650,000...
You pay nothing below £500,000.
You pay 5% on between £500,000 and £925,000, which is £7,500 on a £650,000 property.
So in total, this means you'll pay £7,500.
People buying a second home (ie, in addition to any they already own) that costs more than £40,000 are subject to the higher stamp duty rate. So if you bought a second home worth £100,000, you will pay 3% stamp duty on the £100,000 purchase price (see the table above).
From 1 July 2021, the threshold at which you start paying stamp duty in England and Northern Ireland will decrease to £250,000 – though that threshold will be £300,000 if you're a first-time buyer.
This is what the stamp duty rates will be from 1 July until the end of September:
| Stamp duty in England and Northern Ireland (from 1 July until 30 September) | ||
|---|---|---|
| PURCHASE PRICE | RATE ON MAIN RESIDENCE (1) |
RATE FOR ADDITIONAL PROPERTIES (2) |
| Up to £250,000 (up to £300,000 for first-time buyers) | 0% | 3% |
| £250,001 – £925,000 | 5% | 8% |
| £925,001 – £1,500,000 | 10% | 13% |
| £1,500,001 + | 12% | 15% |
| (1) Rate applies to that portion of the purchase price. (2) Additional properties bought for less than £40,000 will be charged the main residence rate of stamp duty. | ||
1. Let's assume you're buying a property for £250,000...
You pay nothing below £250,000. So this means you'll pay no stamp duty at all.
2. Let's assume you're buying a property for £500,000...
You pay nothing below £250,000.
You pay 5% on between £250,000 and £500,000.
So in total, this means you'll pay £12,500 (a saving of £2,500 compared to the normal threshold).
Stamp duty rates in Scotland
It's not actually called stamp duty in Scotland anymore. A reform brought in by the Scottish Government in April 2015 means it's now referred to as 'land and buildings transaction tax' (LBTT).
However, while the name's changed, the principle hasn't. It's still a lump-sum tax that anyone buying a property or land costing more than a set amount has to pay. And it's a remarkably similar system to the ones in the rest of the UK, the main difference is the thresholds it uses are at different rates – though the Scottish system does have extra relief for first-time buyers like in England and Northern Ireland.
The Scottish Government did introduce a temporary 'stamp duty' holiday between July 2020 and March 2021, but this has now ended. Since 1 April 2021, this is the rate of land and building transaction tax you'll need to pay:
Stamp duty rates in Wales
The Welsh Revenue Authority (WRA) is responsible for collecting and managing land transaction tax (LTT) in Wales.
LTT works similarly to the old stamp duty system, but the Welsh Government has set the thresholds for the tax bands at different rates. Unlike in England, Northern Ireland and Scotland, there is no extra stamp duty relief for first-time buyers.
The threshold at which you start paying land transaction tax was temporarily increased in response to coronavirus, so until 30 June 2021 you won't pay any on the first £250,000 of a main residential property in Wales. These are the current rates:
| Land transaction tax rate (until 30 June) | ||
|---|---|---|
| PURCHASE PRICE | RATE ON MAIN RESIDENCE |
RATE FOR ADDITIONAL PROPERTIES |
| Up to £250,000 | 0% | 4% (but 7.5% between £180,001 and £250,000) |
| £250,001 – £400,000 | 5% | 9% |
| £400,001 – £750,000 | 7.5% | 11.5% |
| £750,001 – £1,500,000 | 10% | 14% |
| £1,500,001 + | 12% | 16% |
Here's an example of how the Welsh system will work until the end of June, for a single residential property priced at £300,000 and filed at main rates.
You pay nothing below £250,000.
You pay 5% on between £250,001 and £300,000, which is £2,500.
So in total, this means you'll pay £2,500 (£0 + £2,500).
How much stamp duty does a first-time buyer pay?
Currently first-time buyers across in England, Northern Ireland and Wales benefit from the stamp duty holiday in the same way that other homebuyers do, as detailed above.
In England and Northern Ireland that means...
- Until 30 June. First-time buyers in England and Northern Ireland won't pay stamp duty on the first £500,000 of a main residential property.
- From 1 July onwards. No stamp duty for first-time buyers on the first £300,000 of a main residential property.
In Wales that means...
- Until 30 June. No land transaction tax is due on the first £250,000 of a property until 30 June.
- From 1 July. First-time buyer stamp duty rates will revert to their pre-coronavirus thresholds. This means that first-time buyers will pay no land transaction tax on the first £180,000 of a property.
How much stamp duty does a first-time buyer pay in Scotland?
In Scotland, first-time buyer stamp duty rates reverted to their pre-coronavirus thresholds on 1 April 2021. This means:
- From 1 April. First-time buyers will pay no land and buildings transaction tax on the first £175,000 of a property.
When must I pay stamp duty and how can I do it?
The crucial thing to know is that if you're buying in England or Northern Ireland, you have 14 days from the date of completion/date of entry (when all the contracts are signed and dated, and you get the keys – read our Buying a home guide for a full timeline) to pay stamp duty or transaction tax. Take longer, and you could face a fine and possibly interest on top, so don't!
Buyers used to have 30 days to pay stamp duty, but new legislation reducing this to 14 days came into effect in March 2019.
In reality, your solicitor will probably sort this out and push you to pay the bill straightaway – in fact, most tend to want their cash before completing the property purchase for you, just in case you then can't or don't pay them.
However, it's legally your responsibility to ensure your stamp duty/transaction tax is paid. If you are doing this yourself, click the questions to see the process.
Can I add stamp duty to my mortgage?
The simple answer here is that it's best that you don't, but many people find that they have to.
To add the cost of stamp duty to your loan means a bigger mortgage debt. So, say you needed a £180,000 mortgage to purchase a house costing £300,000, but wanted to add the stamp duty, you'd need to request borrowing of £185,000 (in England, Wales or Northern Ireland), then use your 'extra' deposit money to pay the stamp duty.
There are two main things to consider here. Firstly, as mortgages tend to be taken out over a long term (25 years or more), that's normally how long the stamp duty borrowing will last too. Over a 25-year term at a rate of 5%, that extra £5,000 borrowing will cost about £8,500 in interest, so it's vital to be aware of the cost.
Secondly, this could affect your loan-to-value ratio (LTV) – the measure of how much of a property's value you are borrowing. The most competitive deals require a maximum LTV of 60% – yet in the example above, adding the stamp duty would push you from 60% to almost 62%, so be careful – speak to a mortgage broker to see if it's the right decision.
Ready to get a mortgage? We've lots more guides, tools & tips to help…
- Mortgage Best Buys. Speedily finds your top mortgage deals.
- First-Time Buyers' Guide. Free PDF helps you take your first step on to the property ladder.
- Remortgage Guide. Our free PDF has tips on when remortgaging's right, plus how to grab top deals.
Spotted out of date info/broken links? Email: brokenlink@moneysavingexpert.com
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