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Stamp Duty

2017 Autumn Budget Statement

Stamp Duty up to £300,000 is abolished for first time buyers who buy a home under £500,000 in value.

From 23 November 2017, first time buyers (only) who buy a home under £500,000 in value, will receive in effect a 'Stamp Duty Allowance' whereby they do not have to pay Stamp Duty on the first £300,000 of the property's value. Stamp Duty at normal rates is still payable on any remaining value over £300,000.

Where the value of the property is £500,000 or above then there will be no Stamp Duty allowance and Stamp Duty will be payable in full at normal rates on the whole property value.

There is a table below showing the amount of stamp duty payable on a selection of purchase prices for a First Time Buyer Residence.

First Time Buyer
Stamp Duty


For homes under £500,000
Quick Calculator: Stamp Duty = 5% of the amount over £300,000.00
PURCHASE
PRICE
STAMP
DUTY
up to £300,000 £0
£320,000 £1000
£340,000 £2000
£360,000 £3000
£380,000 £4000
£400,000 £5000
£420,000 £6000
£440,000 £7000
£460,000 £8000
£480,000 £9000

Primary Residence Domestic Property Stamp Duty (Normal Rate Stamp Duty)

Stamp Duty Surcharge The Treasury announced that from April 2016 for ‘Second Home’ or ‘Buy to Let’ purchases from £40,000.01 and above attract a surcharge of 3% applied to all stamp duty bands. (The surcharge will not be applied to companies nor funds making significant investments in residential property nor to caravans, mobile homes or houseboats.)

Stamp Duty Bands (Normal Rate Stamp Duty).

Up to £125,000 Stamp Duty is 0%

From £125,000.01 to £250,000 Stamp Duty is 2%

From £250,000.01 to £925,000 Stamp Duty is 5%

From £925,000.01 to £1,500,000 Stamp Duty is 10%

From £1,500,000.01 upwards Stamp Duty is 12%

How to calculate the amount of Stamp Duty payable - you add the stamp duty from each band together to get the final amount. For example on the purchase of a property costing £270,000 you would pay 0% on the first £125,000 plus 2% on the next £125,000 plus 5% on the remaining £20,000 making a total of £3,500. (If the property was classed as a second home then the 3% surcharge would apply to every band i.e. the total purchase price. The total Stamp Duty payable would therefore be £3,500 + £8,100 surcharge = £11,600.)

There are tables below showing the amount of stamp duty payable on a selection of purchase prices for a Primary Residence.

Above £125,00 and up to £250,000
Quick Calculator: Stamp Duty = 2% of the amount over £125,000.00
PURCHASE
PRICE
STAMP
DUTY
£130,000 £100
£140,000 £300
£150,000 £500
£160,000 £700
£170,000 £900
£180,000 £1,100
£190,000 £1,300
£200,000 £1,500
£210,000 £1,700
£220,000 £1,900
£230,000 £2,100
£240,000 £2,300
£250,000 £2,500
Above £250,000 and up to £925,000
Quick Calculator: Stamp Duty = £2,500 + 5% of the amount over £250,000.00
PURCHASE
PRICE
STAMP
DUTY
£260,000 £3,000
£280,000 £4,000
£300,000 £5,000
£325,000 £6,250
£350,000 £7,500
£375,000 £8,750
£400,000 £10,000
£450,000 £12,500
£500,000 £15,000
£600,000 £20,000
£700,000 £25,000
£800,000 £30,000
£925,000 £36,250
Above £925,00 and up to £1,500,000
Quick Calculator: Stamp Duty = £36,250 + 10% of the amount over £925,000.00
PURCHASE
PRICE
STAMP
DUTY
£937,500 £37,500
£1,00,0000 £43,750
£1,125,000 £56,250
£1,250,000 £68,750
£1,500,000 £93,750
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