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Stamp Duty

Primary Residence Domestic Property 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.

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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