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Wondering how much stamp duty you owe in 2024? Use the updated stamp duty calculator to find out.

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What is Stamp Duty? Calculating Stamp Duty Land Tax rates when moving home

You usually pay Stamp Duty Land Tax (SDLT) on increasing portions of the property price when you buy residential property, for example, a house or flat.

Stamp Duty Tax only applies to properties over £250,000. Visit the government’s website for more information on stamp duty returns.

We are here to help you to find suitable independent advisers. This guide and stamp duty calculator has been put together to help you understand the general interest only and must not be relied on. It may not be up to date, or complete, relates only to certain types of residential property in England or Northern Ireland, and does not constitute advice.

Please get in touch if you would like to speak to someone to get more detailed calculations; you will always need to take specific advice from your property lawyers, accountants, or other financial advisers on tax issues in specific situations.

How much Stamp Duty is payable in England and Northern Ireland?

SDLT (Stamp Duty Land Tax) is a progressive tax paid when purchasing a residential property; freehold, leasehold or shared ownership worth over £250,000 in England and Northern Ireland. Separate taxes apply in Wales and Scotland. The Autumn 2014 Statement announced the new SDLT rates where a sliding system based on a threshold and dependent on a property price was first introduced.

Before 2014, buyers paid a rate based on the entire value of the property (your purchase price) when a different structure was in place. The new rates are now payable only on the portion of a property price that falls within each band. As with every tax, there will be those who will be better and worse off when compared to the previous system.

How much Stamp Duty will I need to pay?

Stamp duty rates as announced in the mini budget on 23rd September 2022 and will remain the same until 31st March 2025.

These are the stamp duty rates for those buying a residential property to replace a main residence.

Purchase price & Rate

Up to £250,000 Zero
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%

Visit the government’s website for more information.

If you would like to calculate the full stamp duty payable on non-residential assets, such as a mixed-use property, please get in touch with our commercial team.

Who pays Stamp Duty?

Stamp Duty is paid by residential home buyers or non-residential properties in England and Northern Ireland, including overseas buyers, corporate bodies, and non-natural persons.

When do you pay Stamp Duty?

Stamp duty is payable to the HMRC within 14 days from the date of completion, or you may risk a fine when buying a property over a certain price threshold. Your legal adviser or solicitor should take care of this for you and ensure you won’t miss the deadline. Stamp duty can also be added to the Stamp Duty tax amount to your mortgage, which some buyers prefer. If you would like to know more about this, please speak to your mortgage broker/provider.

How much Stamp Duty do First Time Buyers pay?

First-time buyers will pay no Stamp duty land tax on properties worth up to £425,000. On any property purchase price of up to £625,000, you will pay no Stamp Duty on the first £425,000.

After this first-time buyers will pay 5% on the remaining amount, up to £200,000.

View the previous stamp duty land tax rates (SDLT).

How much is buy-to-let and second homes Stamp Duty?

Since April 2016, there has been an additional 3% payable on each stamp duty band for property buyers of additional properties in England and Wales. This relates to those purchasing an investment property under buy-to-let or buying an additional property.

To discuss which London or UK areas will provide the highest returns on investments, please speak to one of our residential experts who can advise where and when to invest.

The non-UK resident stamp duty surcharge applies to:

Any buyer considered a non-UK resident will have to pay a surcharge on top of the standard stamp duty rates for UK Residents.

The government will conclude whether a buyer is a non-UK resident through tests. An individual is a UK resident for these purposes where they have spent 183 days in the UK (determined by their location) over any consecutive 365-day period starting 12 months before the transaction and ending 12 months after.

If an individual is considered a non-UK resident they will pay the full stamp duty rate.

HMRC accepts the following as proof of residence:

membership and usage of clubs, for example, social clubs or sports
credit card and bank statements that indicate the place of the purchaser's expenditure
mobile phone usage and bills that direct to the individual's presence in a country
any overheads such as utility bills that demonstrate an individual have been present in the UK.

Please visit the government's website for more information

Stamp Duty rates for non-UK residents

If a transaction is classified as a 'non-resident transaction', then the 2% surcharge applies on top of all other residential rates of Stamp duty land tax, including:

zero rates
rates that apply to:
first-time buyers
purchasers of additional dwellings
purchasers made by companies
purchasers when the consideration exceeds the higher rate threshold

Can I reduce my Stamp Duty?

As Stamp Duty is only payable on the land purchase, removable fixtures, fittings, or chattels (such as freestanding wardrobes, fridges, sofas, carpets, and curtains) aren’t subject to SDLT and can be subtracted from the total property price. Anything that is 'attached' to the property including light switches, all form part of the property and will be subject to SDLT.

In case the selling party is willing to leave chattels in the property, a reasonable amount should be agreed between the vendor and yourself, which will then be subtracted from the agreed property purchase price. Please note – this can be executed by a conveyancer or a tax lawyer.

Stamp Duty Exemptions

HMRC has a list of specific exemptions that mean you do not have to pay the usual stamp duty land tax after the purchase of a residential property.

These include:

purchase of a freehold property for less than £40,000
property is left to you in a will
no money or other payment changes hands for a land or property transfer
you buy a new or assigned lease of 7 years or more, as long as the amount you pay is less than the residential threshold or non-residential threshold of SDLT

A full list of exemptions can be found on the HMRC website.

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