The cost of Stamp Duty varies depending on the value of your home and is paid on all properties over the value of £125,000. Just enter the value of the property to find out how much you will pay.
What is Stamp Duty?
Known by its full name of Stamp Duty Land Tax, Stamp Duty is a tax paid to the government for any land or property related transactions so if you are purchasing a property, you'll need to remember to calculate any payments that you'll need to make on top of the value of the property.
How much is Stamp Duty?
Property or lease premium or transfer value
Stamp Duty Rate
Up to £125,000
The next £125,000 (the portion from £125,001 to £250,000)
The next £675,000 (the portion from £250,001 to £925,000)
The next £575,000 (the portion from £925,001 to £1.5 million)
The remaining amount (the portion above £1.5 million)
Example: If you buy a house for £275,000, the Stamp Duty Rate you owe is calculated as follows:
0% on the first £125,000 = £0
2% on the next £125,000 = £2,500
5% on the final £25,000 = £1,250
Total SDLT = £3,750
Currently there are no exemptions for first-time buyers. If you purchase a property valued at £125,001 or over first time buyers will be subject to the same stamp duty taxation as everybody else.
Stamp Duty does not apply to you if you are selling your home, but it may be worth taking it into consideration on behalf of your potential buyers.
If your property is valued at £250,000 your buyer would need to find an extra £2,500 on top of the purchase price to cover the stamp duty tax, however if you decided to sell your property at no less than £251,000 the buyer would have to pay an additional £7,500 which could put them off. If your property is on the cusp of a percentage change, the actual value of your property could have an even greater financial impact on the buyer.
How can we help you?
SoSmart Money are specialists when it comes to mortgage and insurance advice. Our trained expert advisers have access to the UK’s leading lenders and using their knowledge and skills will place you with the most suitable leader and product for your needs.
Speak to one of our experts for mortgage advice, life insurance cover, to protect your income, insurance your home or contents and private medical cover.
"Matthew at So Smart found me the best deal for my first Mortgage, he was extremely helpful! I would highly recommend this company!"
"I've been looking to switch mortgages recently to secure a better rate and the guys at So Smart Money helped me do just that."
"My mortgage enquiry was dealt with swiftly and professionally. I would highly recommend So Smart Money to others."
"I've used sosmartmoney a couple of times now, I checked my old mortgage with them and it encouraged me to get a better deal."
Winner of AI Finance awards 2015 for: Best personal finance comparison site & Best online price comparison platform