Stamp Duty Calculator: Residential Properties | Brock Taylor

Calculate your likely stamp duty

Are you looking at purchasing a property and want to know how much stamp duty will be? Use our online stamp duty calculator to find out the exact amount you will have to pay.

Our handy stamp duty calculator will give an indication of the amount of stamp duty you will need to budget for, based on the property you are interested in. Just simply enter the price of the property that you will be purchasing and it will calculate exactly how much you should expect to pay.

Stamp duty thresholds in England

Until 30th June 2021, purchasing a property sold at £500,001 or higher will require a certain amount of stamp duty land tax to be paid. This figure is calculated on a percentage of the cost of a property, with the rate payable changing as it passes through certain thresholds.

For example, if you buy a property worth £950,000 then you will pay nothing on the first £500,000, pay 5% on the portion between £500,001 and £925,000, then pay 10% for the remaining amount up to £950,000

Please note, that from 1st July 2021, these rates will change again until 1st October 2021, when they will change for a third time. We’ve provided you with some handy graphics to demonstrate these changes.

These rates differ slightly for first time buyers. You’ll get a discount (relief) that means you’ll pay less or no tax if both the following apply:

you, and anyone else you’re buying with, are first-time buyers

the purchase price is £500,000 or less

You’ll also be eligible for this discount if you bought your first home before 8 July 2020.

If you already own a home and are purchasing a second property for Buy to Let purposes or as a holiday home, then stamp duty differs here again too. This means you'll have to pay an additional 3% stamp duty on any purchase, other than your main home. However, if you subsequently sell the original property within 3 years you can then apply to have the additional 3% refunded.

When is stamp duty due?

Stamp duty tax is only payable once you have completed on your purchase. This is when all contracts have been exchanged, signed and dated and you have the keys to your new home. Once you have completed, you have 30 days from that date to pay the stamp duty. Failure to do so within this time frame could lead to fines or interest being added on top.

However, usually your solicitor will take care of all of this and then bill you separately for the stamp duty. Make sure you check with your solicitor how this will be paid to ensure you don’t miss the deadline.