Stamp duty calculator

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.

Stamp duty thresholds in England

Purchasing a property sold at £125,000 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 £350,000 then you will pay nothing on the first £125,000, pay 2% on the portion between £125,001 and £250,000, then pay 5% for the remaining amount up to £350,000, which equals £7,500.

These rates differ slightly for first time buyers, as no stamp duty is payable on the first £300,000 of your property. first time buyers are then charged 5% on the next £200,000, meaning they will only have to pay £10,000 stamp duty on a £500,000 property.

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. In April 2016, the stamp duty laws were changed for investors or people who own more than one property, This means they have to pay an additional 3% stamp duty on any purchase, other than their main home. However, if they subsequently sell the original property within 3 years they 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.

Our calculator

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.

If you have any questions about stamp duty, or would like to speak to us about one of our properties for sale, then please get in touch with the team on 01403 272022.