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Stamp duty calculator 2016

Use our calculator to work out how much stamp duty you will need to pay when buying a property.

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Find out how much your stamp duty will cost you

Stamp Duty Calculator New Costs Dec 2014

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

Zero

The next £125,000 (the portion from £125,001 to £250,000)

2%

The next £675,000 (the portion from £250,001 to £925,000)

5%

The next £575,000 (the portion from £925,001 to £1.5 million)

10%

The remaining amount (the portion above £1.5 million)

12%

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.

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