Super simple stamp duty calculator
Find out how much stamp duty (if any) you have to pay in just a few seconds with our quick and easy calculator. In England and Northern Ireland the tax is called Stamp Duty Land Tax (SDLT). In Scotland, stamp duty is now called Land and Buildings Transaction Tax (LBTT) and in Wales it’s referred to as Land Transaction Tax (LTT).
Based on the value of your property and the amount outstanding on your mortgage, the maximum you could borrow is £.
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Stamp Duty
Based on your property purchase price, if you complete your transaction after 1st October 2021 you'll have to pay £0.0 to HMRC.
How is stamp duty calculated?
Stamp duty is calculated on a sliding scale based on the value of the property you’re buying.
In other words, the pricier your new house, the more you’ll be paying in stamp duty.
Where it gets complicated is when you’re buying a property that spans two stamp duty brackets and you’ve got to try and work out 2% of the first £250K + 5% of the remaining cost.
That’s why we built our super easy stamp duty calculator, so you can put down the pen and paper, forget everything your maths teacher taught you about carrying the 1 and just find out how much you’ll need to pay with a few quick clicks.
Will I have to pay stamp duty?
Maybe not. In fact, lots of people don’t have to pay stamp duty when they buy a property. For example:
Until September 2021, if you buy a home for up to £250,000 you will not pay any stamp duty as part of the Government’s economic recovery plans after coronavirus. (This only applies to England and Northern Ireland.)
If you’re buying a property valued below the stamp duty threshold of £125,000, you won’t have to pay stamp duty.
If you’re buying your first home, you don’t have to pay stamp duty on the first £300,000 (as long as your house isn’t worth more than £500,000).
If you’re transferring the deeds to a property, you don’t have to pay a penny in stamp duty either.
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Your most common stamp duty questions, answered.
We know stamp duty can take a bit of getting your head around, so we’ve asked our team of experts to answer the questions they get the most about stamp duty and mortgages.
What is stamp duty?
If you want to be technical about it, you could say that: Stamp Duty Land Tax (SDLT) is a progressive tax that you pay when you buy a freehold, leasehold or shared ownership residential property that costs over £125,000.
If you want to be very non-technical about it, it’s a lump sum you have to pay when you buy a house, based on how much you paid for the house.
When do you pay stamp duty?
Once you’ve completed on the purchase of your new property, you have 14 days to file your stamp duty return with HMRC and pay any stamp duty that you owe.
However, because you’ll more than likely be busy packing, queueing in IKEA or popping the champagne, your solicitor or conveyancer will usually offer to collect your stamp duty in advance, submit your return and pay what you owe on your behalf. (They usually do this on completion day, so you don’t miss the deadline.)
Can I add stamp duty to my mortgage?
Yes, absolutely. Some people choose to borrow just the amount they need to buy their house, while others choose to borrow the amount they need to buy the house plus a little extra to cover fees like stamp duty.
The only stumbling block to borrowing more to pay for stamp duty is that it will affect your LTV (loan to value ratio), which could, in turn, affect your eligibility or the rates you qualify for.
What are the stamp duty rates for first-time buyers?
Stamp duty holidays aside, first-time buyers are somewhat exempt from paying stamp duty.
If you buy a property that’s worth up to £300,000, you don’t have to pay any stamp duty. (Woohoo!)
However, you do have to pay stamp duty on any amount over £300,000. This is worked out on a sliding scale and involves lots of percentages and figures and bands, so it’s probably best to check our SDLT calculator to see what you’ll have to pay if your new place is worth over £300K.
Who pays stamp duty?
Everybody that buys a house has to pay stamp duty, unless they fall under one of the exemptions, like being a first-time buyer, buying a property that falls beneath the stamp duty threshold or if you’re being transferred the deeds to a property.