How much Stamp Duty Land Tax (SDLT) will I pay?

What is Stamp Duty Land Tax (SDLT)?

Stamp duty is a tax payable on property or land purchases in England or Northern Ireland.

You’ll pay the duty on property purchases (for your main residential home) on more than £125,000 or, if it’s a second property, on purchases more than £40,000.

Different taxes apply in Scotland and Wales, currently.

How much Stamp Duty Land Tax will I pay?

The amount of stamp duty you’ll pay depends on the value of the property you’re buying.  The normal stamp duty calculation is levied with the following percentages based on the purchase price:

If it’s your residential home, you’ll pay:

0% up to £125,000

2% on the amount between £125,001 and £250,000

5% on the amount between £250,001 and £925,000

10% on the amount between £925,001 and £1,500,000

12% on anything over £1,500,001

It sounds complicated, but here’s a stamp duty calculator, courtesy of Gov.UK. By clicking on this link you are departing from the regulatory site from Swift Mortgages & Finance. Neither Swift Mortgages & Finance nor Quilter Financial Planning Ltd are responsible for the accuracy of the information contained within the linked site: Stamp Duty Calculator

You will pay an additional 3% Stamp Duty if you’re buying a property to rent out (investment property)or if you’re buying a second home or a holiday home.

In other words, if you’re buying a property that isn’t your MAIN residence.

You would need to select the 2nd property option when using the stamp duty calculator.

The Stamp Duty Holiday which was announced during July 2020 was extended and the deadline was 30th June 2021.

Until 30th September 2021, the stamp duty threshold is reduced to £250,000. Until we are advised differently, we understand stamp duty calculation will revert back to normal on 1st October 2021.

Heide provided a video when the Holiday was announced. 


If you’d like any help then please get in touch!







How much Stamp Duty Land Tax (SDLT) will I pay?


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