Stamp Duty Calculator | Rate Changes 2021/2022 | CBRE Residential

Find out about the latest stamp duty rate changes in 2021/2022 and use our handy SDLT calculator to see how much you must pay on your property in London.

Stamp Duty Calculator








Enter a property price in £ (numbers only)

£

Stamp Duty Due = £

N.B. Stamp duty calculator should be used as a guide only.
Please consult HMRC for latest tax information

 

Stamp Duty Tax Calculator - 2021/2022 updates

 

As announced by the UK Chancellor Rishi Sunak, the stamp duty holiday period has been extended by a further three months, until 30 June 2021. Thereafter, the 0% stamp duty threshold will be reduced from £500k to £250k for 3 months until 30 September 2021. From 1 October 2021, the 0% stamp duty threshold will return to £125k, or £300k for first time home buyers purchasing a home up to £500k.

Stamp Duty Land Tax has been replaced by a Land Transaction Tax in Wales and a Land and Buildings Transaction Tax in Scotland.

Please find our updated stamp duty calculator above to help you put together the correct sum for your purchase.

 

Who pays Stamp Duty?

 

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

 

When is Stamp Duty paid?

 

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. 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 on 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 is the stamp duty for a residential property purchase?

 

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.

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

 

What were the new updates to Stamp Duty in England and Northern Ireland?

 

SDLT (Stamp Duty Land Tax) is a progressive tax paid when purchasing residential property; freehold, leasehold or shared ownership worth over £125,000 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 threshold and dependent on a property price were first introduced. In July 2020, the Chancellor announced the temporary lifting of the tax-free sum to £500k as well as the stamp duty extension to 30 June 2021 with further threshold breaks until 1 October 2021. Non-residential property and mixed-use land are applicable to different SDLT rates and thresholds.

Before 2014, buyers paid a rate based on the entire property 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 comparing to the previous system.

 

How much stamp duty will I have to pay when buying a residential property?

 

Stamp Duty Tax Rates between 8 July 2020 and 30 June 2021 for residential properties purchased by individuals, please refer to our calculator at the top of this page to calculate the sum for your purchase.

See historic SDLT rates, here.

 

Buy-to-let investments and second homes Stamp Duty

 

Since April 2016, there has been an additional 3% payable on each stamp duty band for property buyers in England and Wales. To discuss which London or UK areas will provide the highest returns on investments, please speak to one of our residential experts who can advice where and when to invest.

 

What are the new rates of SDLT for non-UK residents from 1 April 2021?

 

Since 1 April 2021, there has been a 2% Stamp Duty surcharge introduced for overseas residential buyers in England and Northern Ireland. The surcharge is expected to apply to non-resident buyers regardless of the type of buyer (e.g. an individual or a company), subject to very few exceptions for specific collective investment vehicles such as REITs.

The surcharge will be added to the current 3% Stamp Duty surcharge on purchases of  additional dwellings such as Buy to Let investments and second homes, the flat 15% Stamp Duty rate on purchases of dwellings worth more than £500k by companies acting as envelopes and the existing stamp duty rates for UK home buyers.

 

Can I reduce Stamp Duty?

 

As Stamp Duty is only payable on the land purchase, removable fixtures and 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, 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 purchase price. Please note – this can be executed by a conveyancer or a tax lawyer.

 

If you’re interested in purchasing an incredible property in the heart of London, head to our live listings to browse your new luxury home. Or, if you’d like to find out more useful information surrounding the latest residential trends and other market news, our Research and News hubs offer everything you need to know.