Stamp Duty
Stamp Duty Calculator
Do I have to pay if I own another property?
If you have an additional property, such as a second home or buy-to-let property, you will have to pay an extra 3% on top of each band’s current rate if the property value is £40,000 or more.
There are some exceptions, such a mobile homes or houseboats.
Stamp Duty Calculator
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What is Stamp Duty?
If you are buying a new property and there’s a delay in selling your previous main residence, you’ll have to pay the high stamp duty rate, as you will now be the owner of two properties. However, you can claim a refund – see the Government Stamp Duty page for full details.
How much will I have to pay?
The tax is calculated on bands, which are as follows:
From 1st April 2021 the rate will be as follows:
| Purchase Price | Main Residence rate | Additional property rate |
| (£300,000 for first-time buyers) | 0% | 3% |
| £125,001 – £250,000 | 2% | 5% |
| £250,001 – £925,000 | 5% | 8% |
| £925,001 – £1,500,000 | 10% | 13% |
| £1,500,001+ | 12% | 15% |
You pay a portion of the purchase price that falls within each band.
So for example, if you buy a property for £275,000, you will pay:
First £125,000 = 0
Next £125,000 = 2% £2,500
Remaining £25,000 = 5% £1,250
Total stamp duty to pay: £3,750