Stamp Duty Calculator
Here at MortgageTek, our Stamp Duty Land Tax (SDLT) calculator is your essential companion for navigating the intricacies of residential property purchases in the UK. I understand the importance of a seamless property buying process, and our calculator simplifies the complexities of SDLT. It breaks down the basics, including residential property rates, first-time buyers relief, new leasehold sales, higher rates for additional properties, and exceptions for replacing the main residence. Whether you’re a non-UK resident facing a surcharge or dealing with special rates and calculations, our tool ensures you’re well-informed. Trust MortgageTek to empower you with the knowledge for sound financial decisions in your property journey.
Stamp Duty To Pay: £
Effective Rate: %
| Property Value | First Time Buyer | Second Time Buyer | Buy to Let |
|---|---|---|---|
| Up to £250,000 | 0% | 0% | 5% |
| £250,001 - £425,000 | 0% | 5% | 10% |
| £425,001 - £625,000 | 5% | 5% | 10% |
| £625,001 - £925,000 | N/A | 5% | 10% |
| £925,001 - £1,500,000 | N/A | 10% | 15% |
| Above £1,500,000 | N/A | 12% | 17% |
Disclaimer: Please note that the results generated by this calculator are for general estimation purposes only and may not be entirely accurate. For precise information call us 020 3827 8558
Stamp Duty Land Tax (SDLT) is a tax imposed by the UK government on the purchase of residential property.
It is calculated based on the price of the property and is payable by the buyer.
Residential Property Rates
The rates for Stamp Duty on residential properties vary depending on the purchase price.
The tax is not applied to properties priced below £250,000.
For properties priced above this threshold, Stamp Duty is payable on increasing portions of the property price.
First-Time Buyers Relief
First-time buyers may be eligible for a Stamp Duty relief, allowing them to claim a discount on the tax payable for their first home.
The relief allows for no Stamp Duty on properties valued up to £425,000.
New Leasehold Sales and Transfers
SDLT for new residential leasehold properties is calculated based on the purchase price of the lease or the “lease premium.”
An additional 1% SDLT applies if the total rent over the life of the lease exceeds the SDLT threshold.
Higher Rates for Additional Properties
If purchasing a new residential property and already owning one or more properties, higher rates of SDLT apply, generally an additional 3% on top of the standard rates.
Exceptions for Replacing Your Main Residence
Exemption from paying the additional 3% SDLT for owning multiple properties applies when the property purchased is intended to replace the main residence, which has already been sold.
A refund of the additional 3% SDLT is possible if the previous main home is sold within 36 months of purchasing the new property.
Non-UK Residents and Surcharge
Non-UK residents are subject to a 2% surcharge when buying residential property in England or Northern Ireland.
Certain properties, transactions, or buyer types may be exempt from the surcharge.
Special Rates and Calculations
Specific rules and rate calculations apply to various scenarios, such as corporate bodies purchasing residential property, individuals buying six or more residential properties in one transaction, shared ownership properties, and multiple purchases or transfers between the same buyer and seller.
Understanding and calculating Stamp Duty Land Tax is crucial for anyone looking to purchase residential property in the UK.
Familiarizing oneself with the rates, exemptions, and special calculations, as well as utilizing the Stamp Dudy Calculator and seeking guidance from professionals like MortgageTek , can help in navigating the complexities of SDLT and making sound financial decisions.