Stamp duty calculator

From 1 July 2021 to 31 September 2021 the Government's stamp duty holiday removes stamp duty on the first £250,000 on all properties purchased in England and Northern Ireland. The property purchase must complete by 31 September 2021 to qualify for the reduced rate.

How much will I save thanks to the Stamp Duty holiday?

Example saving with current Stamp Duty holiday:

You purchase a property worth £350,000 and complete before the end of September 2021.

Before the change you would pay nothing on the first £125,000, 2% on the following £125,001 to £250,000 and finally 5% stamp duty for the remainder of the value of £350,000. 

First £125,000 = £0.00 (0% x £125,000)

£125,001 to £250,000 = £2,500  (2% of £125,000)

£250,000 to £350,000 = £5,000  (5% of £100,000)

Total stamp duty before the holiday = £0 + £2,500 + £5,000 = £7,500.00

With the current stamp duty holiday you would pay nothing on the first £250,000 and 5% on the remaining £100,000 which equals £5,000, saving you £2,500. 

The Government's stamp duty holiday has removed stamp duty on the first £250,000 on all property purchases up to until the end of September 2021 in England and Northern Ireland. 

Prior to the stamp duty holiday, stamp duty needed to be paid on residential properties and land bought with a value in excess of £125,000. First-time buyers have a discount that means they do not pay any stamp duty on properties up to £300,000. First-time buyers that purchase a property between £300,001 and £500,000 paid 5%.

During the stamp duty holiday, buy-to-let properties and second homeowners pay stamp duty at a rate of 3% on values up to £250,000. For additional homes or BTL properties in excess of the threshold the buyer will have to pay 8% stamp duty up to £925,000, 13% on £925,001 to £1.5 million and a full 15% on any additional property purchase over £1.5 million in value.

In Scotland, the 0% Land and Buildings Transaction Tax (LBTT) threshold increased to £250,000 from £145,000 until the end of March 2021 and the Land Transaction Tax (LTT) threshold for freehold residential transactions in Wales increased to £250,000 from £180,000, both until the end of June. After this time, they reverted to the rates as per the appropriate tables above.

These examples are for stamp duty rates without the current exemption.

You purchase a property at £250,000.

You are allowed £125,000 with no stamp duty tax to pay.

You then calculate 2% of £125,000

Stamp duty to pay is £2,500

You purchase a house at £300,000.

You are allowed £125,000 with no stamp duty tax to pay.

You then calculate 2% of £125,000 . This is £2,500.

You then need to calculate 5% of £50,000. This is £2,500.

Finally total the two values from the stamp duty bands: 2,500 + £2,500 = £5,000

The amount of stamp duty to pay is £5,000.

Stamp duty land tax (SDLT) is the full name for stamp duty and indicates that this tax is payable on the purchase of property and land in the UK.